Skip to main content

Full text of "Annual Report of the Bank Commissioners, September 30, 1859"

See other formats


77 ? 



+— 









tfommomucaltl) of Jfla0sad)usctt0. 



ANNUAL REPORT 



OP THB 



BANK COMMISSIONERS, 



SEPTEMBER 30, 1859. 



1 



BOSTON: 

WILLIAM WHITE, PRINTER TO THE STATE 
1859. 






PUBLIC DOCUMENT No. 6, 

€ommomucaitl) of ilTa0Bacl)U0ctt£i. 



ANNUAL REPORT 



OF THE 



BANK COMMISSIONERS, 



SEPTEMBER 30, 1859 



BOSTON: 
WILLIAM WHITE, PRINTEE TO THE STATE 

185 9. 



* • 
• * 



• . • 






3 



ANNUAL REPORT 



OF THE 



BANK COMMISSIONERS. 



To Hon. Oliver Warner, Secretary of the Commonwealth : — 

The Bank Commissioners respectfully submit . their Ninth 
Annual Report. 

During the past year three new banks have gone into opera- 
tion in this State, making the present number one hundred and 
seventy-seven. These are the Bank of the Metropolis, the Safety 
Fund Bank, and the Revere Bank ; ail of which are in Boston, 
and all have been established under the provisions of the Act 
of 1851, chapter 267, commonly known as the " Free Banking 
Law." The Bank of the Metropolis commenced business in 
October, 1858 ; the Safety Fund Bank, in February, and the 
Revere Bank, in May, of the present year. 

The amount of bank capital in the Common- 
wealth one year ago was .... $51,819,050 00 

Additions made since, . . $2,050,617 00 

Reduction of stock, (" Salem 

Bank," .... 62,500 00 

Actual increase during the 

year, 1,904,117 00 



Total bank capital at the present time, $63,813,167 00 

The additions to the bank capital in the Commonwealth 
during the past year, have been made by the following banks : 



1 



BANK COMMISSIONERS' REPORT. 



[Oct. 



Bank of the Metropolis, (new,) . 

Safety Fund Fund Bank, " 

Revere Bank, " 

Old Colony Bank, (increase,) . 

Bank of Mutual Redemption, (increase,) 

Atlas Bank, (increase,) 

North Bank, (increase,) 



The whole capital is thus distributed :■ 

41 banks in Boston, 
180 other banks, 



:00,000 00 

600,000 00 

600,000 00 

,450 00 

49,200 00 

500,000 00 

103,967 00 

£2,056,617 00 



. 135,525,667 00 
. 28,287,500 00 

863,813,107 00 



During the year the Commissioners have examined ninety- 
live banks and forty-eight savings institutions, being somewhat 
more than the "half" of each class which the law directs us 
to examine in the course of a year. The aggregate of the 
capital stock of the ninety-five banks examined was $36,811,700, 
a sum exceeding half the bank capital of the State by 
14,905,117. 

The names of the banks examined since the 30th of Sep- 
tember, 1858, with the days on which the several examinations 
were commenced, appear in the following list : — 



1859.] 



PUBLIC DOCUMENT— No. 6. 



Banks Examined — 1858-9. 



NAME 



Tlace. 



First day of 
Examination. 



Adams, 

Atlantic, 

Attleborough, 

Bass River, 

Bedford Commercial, 

Blackstone, 

Blackstone, 

Blue Hill, . 

Boston, 

Boylston, 

Brighton, Bank of, 

Bristol County, . 

Broadway, 

Bunker Hill, 

Cabot, 

Cambridge Market, 

Chicopee, 

Citizens', 

City, . 

City, . 

Commercial, 

Concord, 

Conway, 

Exchange, 

Falmouth, 

Fitchburg, 

Freeman's, 

Globe, 

Grafton, 

Hamilton, 

Hampden, 

Hampshire Manufacturers' 

Hide and Leather, 

Holyoke, 

Housatonic, 

John Hancock, . 

Laighton, 

Lancaster, 

Lee, . 

Leicester, 

Machinists', 

Mahaiwe, 

Maiden, 

Massachusetts 

Massasoit, 

Mattapan, 

ihanicks', 
Mechaoi 
Merchau 
Merchants', 



Adams, 

Boston, 

Attleborough, 

Beverly, 

New Bedford, 

Uxbridpre, 

Boston, 

Dorchester, 

Boston, 

Boston, 

Brighton, 

Taunton, 

Boston, 

Charlestown 

Chicopee, 

Cambridge, 

Springfield, 

Worcester, 

Boston, 

Lynn, . 

Salem, 

Concord, 

Conway, 

Salem, 

Falmouth, 

Fitchburg, 

Boston, 

Boston, 

Grafton, 

Boston, 

Westfield, 

Ware, . 

Boston, 

Northampton, 

Stockbriclge, 

Springfield, 

Lynn, . 

Lancaster, 

Lee, 

Leicester, 

Taunton, 

Great Barrington 

Maiden, 

Boston, 

Fall River, 

Dorchester, 

Newbnryport, 

Boston, 

Boston, 

Lowell, 



June 
Dec. 
Mar. 

Aii£. 



23, 1859. 
23, 1858. 
21, 1859. 



Apri 


[ 19, 


u 


« 


29, 


u 


Sept. 


21, 


« 


Aug. 


5, 


u 


Jan. 


3, 


u 


u 


10, 


a 


Nov. 


18, 


1858 


Aug. 


29, 


1859 


June 


14, 


u 


« 


16, 


u 


May 


10, 


u 


July 


6, 


a 


Mar. 


31, 


u 


u 


25, 


a 


Jan. 


13, 


a 


Nov. 


3, 


1858. 


Mar. 


23, 


1859. 


Nov. 


16, 


1858. 


June 


6, 


1859. 


Mar. 


22, 


u 


Oct. 


19, 


1858. 


April 


8, 


1859. 


Sept. 


2b\ 


a 


Jan. 


31, 


u 


May 


24, 


a 


Jan. 


21, 


a 


Aug. 


18, 


a 


Oct. 


29, 


1858. 


Dec. 


28, 


a 


May 


12, 


1859. 


June 


28, 


u 


Oct. 


28, 


1858. 


July 


20, 


1859. 


May 


17, 


a 


Aug. 


17, 


u 


May 


5, 


a 


Sept. 


«, 


(( 


June 


27, 


a 


July 


18, 


a 


Jan. 


27, 


« 


April 15, 


« 


July 


29, 


.. 


April 


11, 


u 


July 


8, 


a 


Nov. 


30, 


185S. 


April 13, 


1859. 



BANK COMMISSIONERS' REPORT. 
Banks Exa m in e d — C o 1 1 cl u d e d . 



[Oct. 



NAME. 



Place. 



First (My of 
Examination. 



Merchants', 
Merchants', 
Merrimack, 
Metacomet, 

Metropolis, Bank of the 

Millbmy, 

Monson, 

Mutual Redemption, Bank of, 

New England, 

Newton, 

North, 

Northampton, 

Northborough, 

Old Colony, 

Pacific, 

People's, 

Provincetown, 

Pynchon, . 

Quinsigamond, 

Rockland, . 

Rockport, . 

Rollstone, . 

Safety Fund, 

Salem, 

ShaAvmut, . 

Shelburne Falls, 

Southbridge, 

South Reading, 

Springfield, 

State, 

Suffolk, 

Taunton, 

Traders',, 

Tradesman's 

Tremont, 

Union, 

Village, 

Waltham, 

Wamesit, 

Wamsutta, 

Washington, 

Webster, 

Westfield, 

Worcester County, 

Wrentham, . 



New bury port, 

Salem, 

Haverhill, . 

Fall River, . 

15o>ton, 

Millbury, . 

Monson, 

Boston, 

Boston, 

Newton, 

Boston, 

Northampton, 

Northbo rough, 

Plymouth, . 

Nantucket, . 

Roxbury, 

Provincetown, 

Springfield, 

Worcester, . 

Roxbury, 

Rockport, 

Fitch bur<x, . 

Boston, 

Salem, 

Boston, 

Shelburne, . 

South bridge, 

South Reading, 

Springfield, . 

Boston, 

Boston, 

Taunton, 

Boston, 

Chelsea, 

Boston, 

Boston, 

Danvers, 

Waltham, . 

Lowell, 

Fall River, . 

Boston, 

Boston, 

Westfield, . 

Blackstone, . 

Wrentham, . 



April 1, 1859. 
June 13, " 

s.-pt. 20, " 
Oct. 21, 1858. 
Mar. 3, 1859. 
May 6, " 
April 25, " 
Mar. 11, " 
.7, " 
11, " 
•) « 



Feb. 
Aug. 
Feb. 
May 



11, 
25, 



Aug. 
July 



20, " 

30, « 

19, " 
1:5, « 

June 4, « 

July 27, « 

Sept. 5, " 
Nov. 22, 1858. 
May 30, 1859. 
Mar. 16, " 
Feb. 10, " 
June 7, " 
April 20, " 
Nov. 8, 1858. 
3, 1859. 
IS, " 
2:5, " 
7, " 

20, 1858. 
15, 1859. 
13, 1858. 
19, 1859. 

9, " 
2, « 



June 
Feb. 



Sept. 
Dec. 
Ju V 

Dec. 

Jan. 
Aug. 
Sept. 
April 12, 

" 14, 

Mar. 7, 
Feb. 28, 
Aug. 19, 
April 28, 
Mar. 28, 



The general condition of the Banks named in the preceding 
list, as ascertained at the several examinations, is set forth in 
the following Abstracts* : — 

* With the exception of the Bank of Brighton, which is not included, because the examination 
of this Bank was for a special purpose, and has already been the subject of a Special Report. See 
Appendix. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



ABSTRACTS. 



FALMOUTH BANK— FALMOUTH. 

[October 19, 1858.] 



Capital, 


$100,000 


00 


Loan, 


• 


$133,384 26 


Circulation, 


41,346 


00 ' 


Real Estate, 


• 


4,400 00 


Deposits, . 


8,319 


46 


Checks and Bills 
other Banks, . 


of 


44 00 


Bank Balances, 


— 




Bank Balances, . 




16,249 69 


Profits on Hand, 


8,017 


01 














Specie, 

Immediate Resources, 


3,604 52 




1157,682 


47 


$157,682 47 


Immediate Liabilities, 


$49,665 


46 


$19,898 21 



Overdue or Suspended Paper, $26,500. Probable loss, $12,750. 



Liabilities of Directors, ....... 

Number of shares owned by Directors, .... 

Loan on Stock of the Bank (on 19 shares,) 

Greatest amount of Stock held by any one person or corporation 

Highest Loan at any one time during the year, . 

Proportion of Loan payable out of Falmouth, about . 



$20,487 00 

113 

$1,300 00 

6,700 00 

140,613 00 

Three-fourths. 



on which Exchange is charged, less than One-twentieth. 



Annual Expenses, about 



$900 00 



Rates of Exchange. — On Boston, nothing; New York, -J- to \ ; Provi- 
dence, \ ; New Bedford, ^ ; Nantucket, -\. Amount of charges for Exchange 
during the last year, perhaps $100. 

This Bank has made no dividend since October, 1857. 



HANK COMMISSIONERS' REPORT. 



[Oct. 



METACOMET BANK— FALL RIVER 

[October 21.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on Hand, 


$600,000 00 

139,521 00 

07,074 86 

1,009 30 

43,076 98 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


22,404 11 

7,245 74 

11,007 30 

9,931 69 




$851,282 14 


51,282 14 


Immediate Liabilities, 


$208,205 16 


$28,787 73 



Overdue or Suspended Paper, $5,018. Probable loss, nothing. 



Liabilities of Directors, $311,376 00 

Number of shares owned by Directors, 375 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by anyone person or corporation, 1,229 shares. 
Highest Loan at any one time during the year, ... .751 32 

Proportion of Loan payable out of Fall River, . . . Nine-tenths. 



" on which Exchange is charged, . 



Three-fourths. 



Annual Expenses, . $2,825 00 



Rates of Exchange. — On Boston and New York, to \ ;- Philadelphia, 
■§; Baltimore, \\ Albany, Providence, to \ ; Taunton, New Bedford, Hart- 
ford, to \] Nantucket, Portland, to |-. Amount of charges for Exchange 
during the last year, about $1,750. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



9 



JOHN HANCOCK BANK— SPRINGFIELD. 

[October 28.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on Hand, 


$150,000 00 

52,729 00 

10,311 69 

335 77 

7,331 03 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$171,131 56 
13,536 50 

920 78 
19,726 00 
15,395 65 




$220,710 49 


$220,710 49 


Immediate Liabilities, 


$63,376 46 


$36,042 43 



Overdue or Suspended Paper, $28,190. Probable loss, $2,778.86. 



Liabilities of Directors, $13,300 00 

Number of shares owned by Directors, ..... 97 

Loan on Stock of the Bank, (on 21 shares,) .... 2,100 0() 
Greatest amount of Stock held by any one person or corporation, 140 shares. 
Highest Loan at any one time during the year, .... $225,616 79 
Proportion of Loan payable out of Springfield, . . One-half. 
" " on which exchange is charged, about . One-third. 
Annual Expenses, about $2,175 00 



Rates of Exchange. — Rates vary with the time the paper has to run — 

on Boston, New York, Philadelphia, Baltimore, \ ; Charleston, New Orleans, 

St. Louis, Chicago, 1 to 2 ; Buffalo, \ to 1 ; Albany, Providence, Hartford, 

Lowell, Salem, ^. Amount of charges for Exchange during the last year, 

about $1,500. 

2 



10 



BANK COMMISSIONERS' UKI'ORT. 



[Oct. 



HAMPSHIRE MANUFACTURERS' BANK— WARE. 

[October 29.] 



Capital, . 
Circulation, 
Depositors, 
Bank Balances, 
Profits on Hand, 


1350,000 00 

241,307 00 

23,884 83 

36,527 96 


J Loan, 

Heal Estate, 

Checks and Bills of 
other Banks, . 

Bank Balanci 

Specie. 

Immediate Resources, 


■<) 90 

568 
22,038 92 




$651,719 70 ; 


$651,719 70 


Immediate Liabilities, 


$265,191 83 


►,173 59 



Overdue or Suspended Paper, $18,211.20. Probable loss, $5,000 or $0,000. 



Liabilities of Directors, 00 

Number of shares owned by Directors, 031 

Loan on Stock of the Bank, (on 31 shares,) .... $1,300 00 
Greatest amount of Stock held by any one person or corporation, 18,200 00 
Highest Loan at any one time during the year, .... GOO, 102 21 
Proportion of Loan payable out of Ware, . . . Seven-eighths. 

" " on which Exchange is charged, . . Very small. 
Annual Expenses, about $3,800 00 



Kates of Exchange. — On Boston and New York, nothing ; Philadelphia, 
and Baltimore, \ ; Charleston, New Orleans, St. Louis, Chicago, 1 ; Albany, 
and New England places, generally, \. Amount of charges for Exchange 
during the last year, very small. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



11 



CITY BANK OF LYNN— LYNN. 

[November 3.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on Hand, 


1100,000 00 

74,784 00 

44,148 44 

7,528 94 

4,839 95 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$199,392 24 

4,766 63 

21,475 27 

5,667 19 




$231,301 33 


$231,301 33 


Immediate Liabilities, 


$126,461 38 


$31,909 09 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $50,188 00 

Numbers of shares owned by Directors, ..... 69 
Loan on Stock of the Bank, (on 3 shares,) .... *$200 00 
Greatest amount of Stock held by any one person or corporation, 182 shares. 
Highest Loan at any one time during the year, . . . $199,392 24 
Proportion of Loan payable out of Lynn, .... Large. 
" on which Exchange is charged, . . Large- 
Annual Expenses, about $2,100 00 



Rates of Exchange. — On Boston, J; New York, Philadelphia and 
Baltimore, to \ ; Charleston, Mobile, Cincinnati, St. Louis and Chicago, 1 to 
\\\ Providence, Hartford, Lowell, New Bedford, Salem, \ to \. Amount of 
charges for Exchange during the last year, perhaps $1,200 or $1,500. 

* 27 shares are pledged as general collateral, besides. 



12 



BANK COMMISSIONERS' REPORT. 



[Oct. 



SOUTH READING BANK— SOUTH READING. 

[November 8.] 



Capital, . 


$100,000 00 


Loan, 


$159,178 13 


Circulation, 
Deposits, . 
Bank Balances, 


54,985 00 
30,723 09 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


3,000 00 
' 204 00 


Profits on Hand, 


5,812 13 


Bank Balances, 


22,323 23 






Specie, 

Immediate Resources, 


6,514 86 




$191,520 22 


$191,520 22 


Immediate Liabilities, 


$85,708 09 


$29,042 09 



Overdue or Suspended Paper, $1,443.85. Probable loss, about half. 



Liabilities of Directors, $42,112 00 

Number of shares owned by Directors, ..... 199 

Loan on Stock of the Bank, (on 80 shares,) .... $6,263 25 
Greatest amount of Stock held by any one person or corporation, 165 shares. 
Highest Loan at any one time during the year, .... $165,361 07 
Proportion of Loan payable out of South Reading, about . Three-fourths. 
" " on which Exchange is charged, about Three-fourths. 
Annual Expenses, about $1,700 00 



Rates of Exchange. — On Boston, to \ ; New York, Philadelphia and 
Baltimore, \ to 1; Charleston, 1; Hartford, Portland, Lowell, Springfield, 
New Bedford, \ to |. Amount of charges for Exchange during the last year, 
about $2,200. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



13 



CONCORD BANK— CONCORD. 

[November 16.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on Hand, 


$100,000 00 
75,477 00 
27,295 02 

10,785 18 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


1186,593 45 

2,400 00 

2,165 25 

9,077 45 

13,321 05 




6213,557 20 


^213,557 20 


Immediate Liabilities, 


$102,772 02 


$24,583 75 



Overdue or Suspended Paper, $22,900. Probable loss, $2,900. 



Liabilities of Directors, ........ $4,387 00 

Number of shares owned by Directors, . . . . . 121 

Loan on Stock of the Bank, $4,010 00 

Greatest amount of Stock held by any one person or corporation, 92 shares. 
Highest Loan at any one time during the year, .... $183,960 48 
Proportion of Loan payable out of Concord, about . . One-third. 
" " on which Exchange is charged, about One-third. 
Annual Expenses, about $1,500 00 



Rates of Exchange. — On Boston and New York, \ to \ ; Philadelphia 
and Baltimore, J; Charleston, New Orleans, St. Louis, Chicago, 11; Cincin- 
nati, 1; Hartford, | ; Albany, Providence, Lowell, New Bedford, Salem, 1 -. 
Amount of charges for Exchange during the last year, about $1,500. 



14 



BANK COMMISSIONERS' RKPORT. 



[Oct. 



ROLLSTONE BANK— FITCHBURG. 

[NoTember 22] 



Capital, 

Circulation, 
i Vposits, . 
Bank Balances, 
Profits on Hand, 


$250,000 00 
99,175 00 
37,341 62 

31,914 85 


Loan, 

Real Estate, 

Cheeks and Bills of 
other Bank 

Bank Balances, . 

Specie, 

Immediate Resources, 


3,9* 

1,372 35 
62,929 39 
15,0! 




$418,431 47 


$418,431 47 


Immediate Liabilities. 


$136,516 62 


$79,339 60 



Overdue or Suspended Paper, $1,237.94. Probable loss, nothing. 



Liabilities of Directors, $77,422 00 

Number of shares owned by Directors, . . . . . 240 

Loan on Stock of the Bank, (on 53 shares,) .... $1,870 00 
Greatest amount of Stock held by any one person or corporation, 80 sh; 

Highest Loan at any one time during the year 8382,000 00 

Proportion of Loan payable out of Fitchburg, about . Two-thirds. 

" " on which Exchange is charged, about One-half. 
Annual Expenses, about . • $3,000 00 



Bates of Exchange. — On New York and Philadelphia, ^ to \ : Balti- 
more,-*-; Charleston,!; 1 ,-; Xew Orleans, Cincinnati, St. Louis, Chicago, 2: 
Albany. Providence, Hartford. Portland. Springfield, Lowell, New Bedford, 
Salem, \. Amount of charges for Exchange during the last year, about 
$3,500. 



1859.J 



PUBLIC DOCUMENT— Xo. 6. 



15 



MERCHANTS' BANK— BOSTON. 

[November 30.] 



Capital, . 
Circulation. 
Deposits, . 
Bank Balances, 
Profits on Hand, 


$±,000,000 00 

587,835 00 

3.179,647 04 

964,260 82 

303,286 72 


! Loan, 

Real Estate, 

i Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 

i 


86,882,981 16 
400,000 00 

369,588 63 

5,000 00 

1,377,459 79 




89,035,029 58 


$9,035,029 58 


Immediate Liabilities, 


14,731,742 86 

t 


$1,752,048 42 



Overdue or Suspended Paper, 8239,968.. Probable loss, not over 818,600. 



Liabilities of Directors, §350,815 00 

Number of shares owned by Directors, ..... 350 

Loan on Stock of the Bank, (on 1,126 shares,) .... 884,100 00 
Greatest amount of Stock held by anyone person or corporation, 1,177 shares. 
Highest Loan at any one time during the year. . . 86,747,000 00 

Proportion of Loan payable out of Boston, . . | to } s , sometimes \. 

" " on which Exchange is charged, . . Very small. 
Annual Expenses $35,000 to $38,000 



Rates of Exchange. — On New York, Philadelphia and Baltimore, to 
I : Charleston, Mobile, New Orleans, Louisville, Cincinnati, St. Louis, Chi- 
cago, 1 to 1£; Buffalo, \ to 1 : Albany and Providence, to \ ; Hartford, 
Portland, Springfield, Lowell, New Bedford, Nantucket, Salem, 0, -*■ and \. 
Amount of charges for Exchange during the last year, very small. 



16 



BANK COMMISSIONERS' REPORT. 



[Oct. 



TREMONT BANK— BOSTON. 

[December 13.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on Hand, 


$1,250,000 00 

212,120 00 

827,683 67 

251,589 09 

06,091 09 


Loan, 

Real Estate, 

Checks and Bills of\ 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$2,234,004 90 

110,786 35 

21,217 58 

240,788 02 




$2,607,486 85 j 


$2,607,486 85 


Immediate Liabilities, 


$1,291,392 76 

1 


$372,791 95 



Overdue or Suspended Paper, $8,587. Probable loss, nothing. 



Liabilities of Directors, $234,900 00 

Number of shares owned by Directors, ..... 1 17 

Loan on Stock of the Bank, (on 40 to 50 shares,) . . . $3,700 00 
Greatest amount of Stock held by any one person or corporation, 662 shares. 
Highest Loan at any one time during the year, . • . . $2,375,096 00 
Proportion of Loan payable out of Boston, . . . Less than £. 
" " on which Exchange is charged, . . Less than £. 
Annual Expenses, about $14,000 00 



Rates of Exchange. — Rates vary with the time the paper has to run. 
On Philadelphia, 1 ; Baltimore, -| ; Buffalo, 1 ; Albany, Hartford, Portland, 
Springfield, £; Providence, Lowell, New Bedford, Salem, 1; on other places, 
^ above cost. Amount of charges for Exchange during the last, year, about 
$5,000. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



17 



TRADERS' BANK— BOSTON. 

[December 20.] 



Capital, . 


$600,000 00 


Loan, 


$1,138,008 77 


Circulation, 
Deposits, . 
Bank Balances, 


172,181 00 
233,910 94 
241,799 75 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


20,000 00 
32,294 09 


Profits on hand, 


39,393 21 


Bank Balances, . 


13,808 42 






Specie, 

Immediate Resources, 


83,053 02 




$1,287,284 90 j 


$1,287,284 90 


Immediate Liabilities, 


$047,891 G9 


$129,210 13 



Overdue or Suspended Paper, $101,273.19. Loss, "uncertain." 



Liabilities of Directors, $172,518 00 

Number of shares owned by Directors, ..... 33 

Loan on Stock of the Bank, (on 89 shares,) .... $8,403 00 
Greatest amount of Stock held by any one person or corporation, 243 shares. 
Highest Loan at any one time during the year, . . . $1,173,322 45 
Proportion of Loan payable out of Boston, about . . One-eighth. 
" " on which Exchange is charged, . . Very small. 
Annual Expenses, about $9,000 00 



Rates of Exchange. — Rates vary according to length of paper. On 
New York, Philadelphia and Baltimore, to 1 ; Mobile, New Orleans, Louis- 
ville, Cincinnati, St. Louis, Chicago, 1 to 2 ; Buffalo and Albany, 1 ; Provi- 
dence, Hartford, Portland, Lowell, New Bedford, Salem, &c, \. Amount of 
charges for Exchange during the last year, $2,370.10. 



18 



BANK COMMISSIONER! IT. 



[Oct. 



ATLANTIC BANK— BOSTON. 

[December 23 .] 



Capital, . 


$500,000 00 


Loa 




Circulation, 


114,817 00 


Ileal Estate, 


00 00 


Deposits, . 
Bank Balances, 


289,010 G5 
92,9G8 41 


Checks and Bills of 
other Banks, . 

Bank of Mutual Re- 


49,110 54 


Profits on hand, 


70,809 31 


demption, 


5,000 00 






Specie, 

Immediate Resources, 


112,748 44 




$1,068,235 40 




$1,068,235 40 


Immediate Liabilities, 


$197,420 00 


$10G,S58 98 



Overdue or Suspended Paper, $183,370. Probable loss, nothing. 



Liabilities of Directors, 860,459 00 

Number of shares owned by Directors, 98 

Loan on Stock of the Bank, (on 20 shares, with other collateral,) $G,300 00 
Greatest amount of Stock held by any one person or corporation, 283 shares. 
Highest Loan at any one time during the year, .... $872,153 91 
Proportion of Loan payable out of Boston, about . . One-eighth. 
" " on which Exchange is charged, . . Very little. 
Annual Expenses, about §10,000 00 



Rates of Exchange. — On Philadelphia and Baltimore, -*-; Mobile, New 
Orleans, Louisville, Cincinnati, St. Louis, Chicago, 1 ; Buffalo, I- ; Albany. 
Providence, Lowell, New Bedford, -j> ; Hartford, Portland, Springfield, \ ; 
Salem, -^. Amount of charges for Exchange during the last year, not over 
$7,500. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



19 



HIDE AND LEATHER BANK— BOSTON. 

[December 28.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


81,000,000 00 

237,002 00 

354,320 21 

300,191 49 

31,468 62 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$1,718,185 02 

64,778 15 

37,198 76 

102,820 42 




11,922,982 35 


81,922,982 35 


Immediate Liabilities, 


$891,513 73 


8204,797 33 



Overdue or Suspended Paper, 83,753. Probable loss, not more than 25 per ct. 



Liabilities of Directors, $268,200 00 

Number of shares owned by Directors, 376 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 300 shares. 
Highest Loan at any one time during the year, . . . $1,718, 1S5 02 
Proportion of Loan payable out of Boston, . . . One-fourth. 
" " on which Exchange is charged, . . One-tenth. 
Annual Expenses, about $9,000 00 



Rates of Exchange. — Rates vary according to length of paper. On 
New York, Philadelphia and Baltimore, \ ; Charleston, Mobile, New Orleans, 
Louisville, Cincinnati, St. Louis, -J- to 1 ; Albany, Providence, Hartford, Port- 
land, Springfield, Lowell, New Bedford, Salem, \ to \ ; Lynn, J; Bangor, -J. 
Amount of charges for Exchange during the last year, probably not more 
than $500. 



20 



BANK COMMISSIONERS' REPORT. 



[Oct. 



BOSTON BANK— BOSTON. 

[January 3, 1859.] 



Capital, . 
Circulation, 

Deposits, . 
Bank Balances, 
Profits on hand, 


$900,000 00 
245,120 00 

906,609 89 

90,189 70 

159,952 12 


! Loan, 

Heal Estate, 

' Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


'1 81 
KM) 00 

205,741 05 

38,497 15 

360,231 76 




82,361,871 77 


92,361,871 77 


Immediate Liabilities, 


$1,301,919 65 


) 1,469 96 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $245,100 00 

Number of shares owned by Directors, 792 

Loan on Stock of the Bank, ...... None. 

Greatest amount of Stock held by any one person or corporation, 700 sha: 
Highest Loan at any one time during the year, . . . $1,790,047 92 
Proportion of Loan payable out of Boston, about . . One-fourth. 
" " on -which Exchange is charged, about . One-fourth. 
Annual Expenses, about $13,000 00 



Hates of Exchange. — On New York, Philadelphia, Baltimore, Provi- 
dence, Hartford, Portland, \ to \ ; on other places, cost of collection. The 
amount of charges for Exchange since October, 1857, has been 84,268.09. 



1859.] 



PUBLIC DOCUMENT— Xo. 6. 



21 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on Land, 



BOYLSTOX BANK— BOSTON. 

[January 10.] 



§100,000 00 Loan, 
205,110 00 
450,108 23 



Bank of Mutual Re- 
demption, 



Checks and Bills of 
1,572 05 other Banks, . 

46,342 19 Bank Balances, . 

Specie, 



§1,109,169 37 



Immediate Liabilities, §662,827 18 



§300,277 69 
20,000 00 

55,281 00 

102,233 46 
131,377 22 



Immediate Resources, 



§1,109,169 37 



§288,891 68 



Overdue or Suspended Paper, none. 



Liabilities of Directors, §69,475 60 

Number of shares owned by Directors, 197 

Loan on Stock of the Bank, (on 239 shares.) .... §12,200 00 
Greatest amount of Stock held by any one person or corporation, 184 shares. 
Highest Loan at any one time during the year * . . . §810,955 00 

Proportion of Loan payable out of Boston, about . . One-tenth. 
" " on which Exchange is charged, about . One-fifth. 



Annual Expenses, about . 



§8,500 00 



RATES OF Exchange.— On New York, £toJ; Philadelphia and Balti- 
more, \ ; Mobile and New Orleans, 1 ; Louisville, St. Louis, Chicago, \\ ; 
Providence and Lowell, J to \ ; Albany, Hartford, Portland, New Bedford, 
Salem, \. Amount of charges for Exchange during the last year, probably 
not over §100. 



* Including Loan to the Commonwealth. 



22 



BANK COMML ERS' REPORT. 



[Oct. 



CITY BANK— BOSTON. 

[January 18 ] 



Capital, . 

Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$1,000,000 00 
99,921 00 

480,031 18 
68,010 72 

111,552 09 


Loan, 

Ileal Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


$1,516,172 83 

30,000 00 

57,307 30 

10,297 69 

146,373 17 




11,760,150 99 


$1,760,150 99 


Immediate Liabilities, 


$6-18,598 90 


$213,978 16 



Overdue or Suspended Paper, $29,900. Probable loss, $5,720. 



Liabilities of Directors, $173,900 00 

Number of shares owned by Directors, 43 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 1,271 shares. 
Highest Loan at any one time during the year, . . . $1,608,089 75 
Proportion of Loan payable out of Boston, about . . One-third. 
" " on which Exchange is charged, about One-third. 
Annual Expenses, about $14,000 00 



Rates of Exciiaxge. — Bates vary with the time. On .New York and 
Philadelphia, \ to£; Baltimore, -j*. to f ; New Orleans, \ ; St. Louis, \ to l 1 ; 
Rochester and Utica, N. Y., Bridgeport, Conn., Calais, Me., \ to f ; Portland, 
Bangor and Bath, Hartford and New Haven, Taunton, \ to ■£; Loekport, 
Syracuse, Poughkcepsie, N. Y., J; Zanesville, Ohio, 1; Maiden, Danvers, 
Waltham, Pittsfield, Buffalo, Albany, Providence, \ ; Abington, Springfield, \\ 
Lowell, New Bedford, Salem, \ to -|. Amount of charges for Exchange 
during the last year, $2,190. 



9.] 



PUBLIC DOCUMENT— No. 6. 



23 



UNION BANK— BOSTON. 

[January 19.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances. 
Profits on Land, 


$1,000,000 00 
118,049 00 
625,677 12 
253,708 92 

137,005 90 


Loan, 

Ileal Estate, 

Checks and Bills of 
otlier Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$1,832,251 50 

155,179 72 

9,071 11 

138,295 70 




$2,135,401 03 


$2,135,401 03 


Immediate Liabilities, 


1997,435 04 


•3,146 53 



Overdue or Suspended Paper, $11,270. No loss anticipated. 



Liabilities of Directors, $148,005 00 

Numbers of sbares owned by Directors, ..... 25 

Loan on Stock of the Bank, (on 28 sbares,) .... $2,700 00 
Greatest amount of Stock held by any one person or corporation, $31,200 00 
Highest Loan at any one time during the year,* . . . $2,021,779 09 
Proportion of Loan payable out of Boston, about . . One-quarter 
" on which Exchange is charged, . . Very small. 
Annual Expenses, about $12,500 00 



k. — Hates vary with the time. The highest rates 

re— on New Fork, Philadelphia and Baltimore, from J 

: Albany, Providenc New England generally, J to A ; 

bat during the past year, pap ible al those places has been discounted 

without Exchange J the amount of charges lias been " merely nominal." 



the Commonwealth of §30,000. 



24 



BANK COMMISSI •>' REPORT. 



[Oct. 



HAMILTON BANK— BOSTON. 

[January 24.] 



Capital, . 

Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


10,000 00 

100,831 00 
40-1,005 80 
9,405 11 
143,157 89 1 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$964,994 93 

G2,202 47 
80,288 37 
50,574 09 




$1,101,059 80 1 


$1,164,059 86 


Immediate Liabilities, 


$520,901 97 


$199,004 93 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $140,107 00 

Number of shares owned by Directors, 227 

Loan on Stock of the Bank, • None. 

Greatest amount of Stock held by any one person or corporation, 1,433 shares. 
Highest Loan at. any one time during the year, . . . $1,000,000 00 
Proportion of Loan payable out of Boston, about . . One-third. 
" " on which Exchange is charged, about . One-third. 
Annual Expenses, about $10,550 00 



Rates of Exchange. — Vary with the time. On New York, nothing; 
Philadelphia, \ to \\ Baltimore, \ ; Charleston, Mobile, New Orleans, St. 
Louis, Chicago, Cincinnati, 1 ; Buffalo, •§ ; Albany, Hartford, Portland, \ ; 
Providence, Lowell, New Bedford, Salem, \. 



1859.J 



PUBLIC DOCUMENT— No. 6. 



25 



MASSACHUSETTS BANK— BOSTON. 

[January 27.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 



Immediate Liabilities, 



$300,000 00 

95,031 00 

505,227 31 

6,871 71 

106,738 63 



$1,513,868 Go 



$307,130 02 



Loan, 

Real Estate, . . 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 



Immediate Resources, 



$1,153,851 12 
75,812 24 

36,735 59 
247,469 70 



$1,513,868 65 



$281,205 29 



Overdue or Suspended Paper, $10,590.60. Probable loss, about $3,000. 



Liabilities of Directors, $200,000 00 

Number of shares owned by Directors, ..... 19 

Loan on Stock of the Bank, (on 14 shares,) .... $2,900 00' 
Greatest amount of Stock held by any one person or corporation,* 60,000 00 
Highest Loan at any one time during the year, . . 1,317,355 24 

Proportion of Loan payable out of Boston, about . . One-quarter. 

" " on which Exchange is charged, . . None. 
Annual Expenses, about -'H 1,500 



Rates OF EXCHANGE. — No Exchange is charged except on New York 
and Philadelphia — rates from £ to J. During the last year nothing has been, 
received in the way of Exchange. 



* 240 shares, at S250 per share. 



26 



rLT.LIC DOCUMENT— No. 6. 



[1859. 



GLOBE BANK— BOSTON. 

[.January 31.] 



Capital, 

Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand', 



Immediate Liabilities, 



#1,000,000 00 


153,746 00 


1,118,708 59 


324,320 90 


117,545 84 


82,714,321 33 


11,596,775 49 



Loan, 

Ileal Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 



Immediate Resources, 



,175 69 

'.529 00 

15,012 53 

672,604 11 



^2,714,321 33 



$777,145 64 



Overdue or Suspended Paper, $71,399.94. No loss apprehended. 



Liabilities of Directors, 671,250 00 

Number of shares owned by Directors, 155 

Loan on Stock of the Bank, - 

Greatest amount of Stock held by any one person or corporation, 900 shares. 
Highest Loan at any one time during the year, . . . '.000,958 20 

Proportion of Loan payable out of Boston, . . . Very small. 

" " on which exchange is charged, . . None. 
Annual Expenses, about $15,000 00 



Rates of Exchange. — Usually, on New York, Philadelphia, and Balti- 
more, ^ ; but during the last year nothing has been charged for Exchange. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



27 



NORTH BANK— BOSTON. 

[February 2.] 



Capital, . 


$750,000 


00 


Loan, 


81,233,077 


75 


Circulation, 


97,972 


00 


Real Estate, 


- 




Deposits, . 


452,031 


63 


Checks and Bills of 












other Banks. . 


70,405 


79 


Bank Balances, 


85,023 


25 














Bank Balances, 


28,349 


68 


Profits on hand, 


30,348 


43 














Specie, 

Immediate Resources, 


83,545 


09 


m 


11,415,978 


31 


$1,415,978 


31 


Immediate Liabilities, 


$635,629 


88 


$1S2,300 


56 



Overdue or Suspended Paper, $29,634.84. No loss apprehended. 



Liabilities of Directors, $89,190 63 

Number of shares owned by Directors, ..... 116 

Loan on Stock of the Bank, (on 28 shares,) .... $2,636 00 
Greatest amount of Stock held by any one person or corporation, 320 shares. 
Highest Loan at any one time during the year, . . . $1,280,160 88 
Proportion of Loan payable out of Boston, about . . One-quarter. 
" " on •which Exchange is charged, . . One-quarter. 
Annual Expenses, $13,400 00 



Rati:- of EXCHANGE vary with the time. On New York, Philadelphia, 
and Baltimore. | to 1 : Mobile, and New Orleans, -J- to 2 ; Louisville, Cincin- 
nati, St Louis, and Chi tafiata and Albany,' 4 to 1; Provi- 
der : Hartford, Portland, Lowell, New Bedford, and Salem, \ to |, 
Amount of cl >r Exchange during tin- last year, $1,240.60. 



28 



BANK COMMISSIONERS' REPORT. 



[Oct. 



NEW ENGLAND BANK— BOSTON. 

[February 7.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$1,000,000 00 

133,342 00 

311,860 12 

147,319 05 

70,831 79 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Lnmediate Resources, 


$1,475,251 06 
32,000 00 

41,988 52 

15,123 43 

131,389 35 




$1,696,352 96 

i 


$1,696,352 96 


Immediate Liabilities, 


$625,521 17 ! 

1 


$188,501 30 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $148,400 00 

Number of shares owned by Directors, . . . . . 109 

Loan on Stock of the Bank, (on 92 shares,) .... $6,700 00 
Greatest amount of Stock held by any one person or corporation, 239 shares. 
Highest Loan at any one time during the year, . . . $1,756,592 00 
Proportion of Loan payable out of Boston, about . . One-quarter. 

" " on which Exchange is charged, . . "Hardly any." 
Annual Expenses, about . $11,000 00 



Rates of Exchange. — Rates vary with the time. On New York, i ; 
Philadelphia, and. Baltimore, f ; Savannah, Augusta, Cincinnati, St. Louis, 2 ; 
Louisville, Chicago, 1 to \\ ; Albany, Providence, Hartford, Portland, New 
Bedford, \ ; Lowell, Salem, }-. Amount of charges for Exchange during the 
last year, $400. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



29 



SHAWMUT BANK— BOSTON. 

[February 10.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on band, 


$750,000 00 

131,792 00 

375,622 47 

109,319 60 

54,861 66 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$1,276,601 03 

69,124 28 

8,866 71 

160,003 71 




$1,514,595 73 


$1,514,595 73 


Immediate Liabilities, 


$709,734 07 


$237,994 70 



Overdue or Suspended Paper, $46,609. Probable loss, $18,000. 



Liabilities of Directors, $79,115 00 

Number of shares owned by Directors, . . . . . 181 

Loan on Stock of the Bank (on 75 shares,) .... $6,500 00 
Greatest amount of Stock held by any one person or corporation, 70,000 00 
Highest Loan at any one time during the year, . . . 1,363,282 87 

Proportion of Loan payable out of Boston, about . . One-quarter. 

" " on which Exchange is charged, about . One-tenth. 
Annual Expenses, about $13,000 00 



Rates of Exchange. — Vary with the time. On New York, Philadel- 
phia, and Baltimore, ; Mobile, 1 ; New Orleans, Louisville, Cincinnati, 
St. Louis and Chicago, \ to 1 ; Albany, Providence, Portland, \ to \ ; Hart- 
ford, to \ ; Lowell and New Bedford, \ ; Salem, \ to -J-. Amount of charges 
for Exchange during the last year, about $3,500. 



30 



BANK COMMISSIONERS' REPORT. 



[Oct. 



STATIC BANK— BOSTON. 

[February 10.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$1,800,000 00 
114,470 00 
668,055 13 

247,522 95 
308,518 63 


Loan, 

Real Estate, 

Chocks and Bills of 
other Banks, . 

Bank Balances. 

Specie, 

Immediate Resources, 


103,476 

21,905 59 
151,192 02 




$3,138,572 71 


$3,138,572 71 


Immediate Liabilities, 


$1,030,054 08 


$270,034 41 



Overdue or Suspended Paper, $4,520.93. Probable loss, not over $2,000. 



Liabilities of Directors, $15,377 00 

Number of shares owned by Directors, ..... 342 

Loan on Stock of the Bank, (on 244 shares,) .... $10,800 00 
Greatest amount of Stock held by any one person or corporation, 658 shares. 
Highest Loan at any one time during the year, . . . $3,029,507 27 
Proportion of Loan payable out of Boston, nearly . . One-half. 

" " on which Exchange is charged, . Very small. 
Annual Expenses, about . $20,000 00 



Rates of Exchange. — Vary with the time paper has to run. On New 
York, Philadelphia, Baltimore, Albany, Providence, Hartford, Portland, 
Lowell, New Bedford and Salem, i to 1; on Charleston, S. C, -| to 1-|. 
Amount of charges for Exchange during the last year, $957.08. 



1859.] 



PUBLIC DOCUMENT— Xo. 6. 



°1 



SUFFOLK BANK— BOSTON. 

[February 23] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 



Immediate Liabilities, 



$1,000,000 00 
451,852 00 
874,761 35 

1,354,334 53 
251,925 95 



§3,932,876 83 



82,680,947 88 



Loan,* 

Real Estate, 

Cheeks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 



Immediate Resources, 



§2,004.131 23 
120,000 00 

595,751 00 
726,441 72 
486,252 88 



§3,932,876 83 



§1,808,445 60 



Overdue or Suspended Paper, none. 



Liabilities of Directors, §249,849 00 

Number of shares owned by Directors, ..... 369 

Loan on Stock of the Bank, (on 41 shares,) .... §3,600 00 
Greatest amount of Stock held by any one person or corporation, 900 shares. 
Highest Loan at any one time during the year, . . . §2,025,310 16 
Proportion of Loan payable out of Boston, about . . One-fourth. 
" " on which Exchange is charged, j jess than %■. 
Annual Expenses, about 870,000 00 



Rates of Exchange. — On New York, nothing; Philadelphia and Balti- 
Albany, Providence, Hartford, Portland, Springfield, Lowell, Xew 
Bedford, Salem, J; Nantucket, -*-. Amount of charges for Exchange during 
the last year, §409.42. 



* Including Loan to the Commonwealth. 



BANK COMMISSIONERS' REPORT. 



[Oct. 



WEBSTER BANK—BOSTON. 

[February 28 ] 



Capital, 
Circulatio 

Deposits, 
Bank Bal 
Profits on 


n, 

ances, 
hand, 

i Liabilities, 


$1,500,000 00 ' 
280,909 00 
982,399 47 
129,175 15 
136,030 25 , 


Loan, 

Real Estate, 

Checks' and Bills of 
other Banks,' . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$2,575,817 CO 

181,825 00 

51,472 32 

220,298 95 




$3,029,413 87 


$3,029,413 87 


linmediatt 


$1,392,783 62 


■-'153,596 27 



Overdue or Suspended Paper, $7,110. No loss apprehended. 



Liabilities of Directors, $464,104 00 

Number of shares owned by Directors, ..... 217 

Loan on Stock of the Bank, (on 20 shares,) .... $2,000 00 
Greatest amount of Stock held by anyone person or corporation, 2,600 shares. 
Highest Loan at any one time during the year, . . . $2,849,030 03 
Proportion of Loan payable out of Boston, . . . One-half. 

" " on which Exchange is charged, . . None. 
Annual Expenses, about . $20,000 00 



Rates of Exchange. — Rates vary according to length of 'paper. On 
paper having 4 months or more to run, the charges within two years have 
been — on New York and Philadelphia, \ ; Baltimore, \ to \ ; Mobile and New 
Orleans, 1 ; Cincinnati and St. Louis, 1 to 11; Chicago, 1 ; Albany, \\ Prov- 
idence, Hartford, Portland, Lowell, New Bedford, Salem, \ to \. Amount of 
charges for Exchange during the last year, " nominal," — no account has been 
kept. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



33 



BANK OF THE METROPOLIS— BOSTON. 

[March 3.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$200,000 00 

87,590 00 

266,261 85 

66,589 70 

3,653 59 


Loan, 

Public Stocks, . 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$366,755 01 
122,000 00 

49,232 35 
6,103 32 

80,004 46 




$624,095 14 


$624,095 14 


Immediate Liabilities, 


8120,411 55 


$135,340 13 



Overdue or Suspended Paper, none. 



Liabilities of Directors, 826,500 00 

Number of shares owned by Directors, 243 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 68 sjbares. 
Highest Loan at any one time during the year, .... $366,755 01 
Proportion of Loan payable out of Boston, about . . One-fourth. 

" " on which Exchange is charged, about . One-fifth. 

Annual Expenses, cannot now be stated.* 



Rates of Exchange. — On New York, J ; Philadelphia and Baltimore, 
J to | ; Charleston, Mobile, St. Louis, and Chicago, 1 J to 2 ; New Orleans, 
and Cincinnati, 2 to 2 \ ; Albany, Providence, Hartford, Portland, -J ; Lowell, 
New Bedford, Salem, \ to \. Amount of charges for Exchange for 4J 
months, about $600. 

* This Bank had been in operation less than five months at the time of examination. 
5 



34 



IJANK COMMISSIONERS' REPORT. 



[Oct. 



WASHINGTON BANK— BOSTON. 

[March 7.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$750,000 00 

160,790 00 1 

571,992 93 

30,977 74 

124,908 98 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$1,427,533 99 

74,396 45 

5,000 00 

146,745 21 




$1,653,675 65 


$1,653,675 05 


Immediate Liabilities, 


$778,766 67 


$226,141 66 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $32,095 00 

Number of shares owned by Directors, 143 

Loan qn Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 1,360 shares. 
Highest Loan at any one time during the year, . . . $1,488,919 15 
Proportion of Loan payable out of Boston, about . . One-half. 

" " on which Exchange is charged, . . One-quarter. 
Annual Expenses, $12,500 00 



Rates of Exchange. — Vary with the time. On Baltimore, J ; Charles- 
ton, Mobile, New Orleans, Cincinnati, St. Louis, f to 1 ; Chicago, 1-^ to 1^ : 
Albany, Providence, Hartford, Springfield, Lowell, New Bedford, Salem, \ ; 
Portland, Nantucket, \ to \. Amount of charges for Exchange during the 
last year, $1,500 to 2,000. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



35 



BANK OF MUTUAL REDEMPTION— BOSTON. 

[March 11. ] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$561,700 00 
41,450 00 
45,292 00 

1,401,664 37 
7,316 31 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$1,085,683 25 

590,748 39 
242,448 90 
138,542 14 




$2,057,422 68 


$2,057,422 68 


Immediate Liabilities, 


$1,488,406 37 


$971,739 43 



Overdue or Suspended Paper, $9,750. Probable loss, $1,950. 



Liabilities of Directors, 

Number of shares owned by Directors,* 
Loan on Stock of the Bank, ..... 
Greatest amount of Stock held by any one corporation, 
Highest Loan at any one time during the year,f 
'Proportion of Loan payable out of Boston, 

" " on which Exchange is charged, . 
Annual Expenses, about 



$110,015 00 



None. 
200 shares. 
$1,148,673 30 
Very small. 
Very small. 
. $35,000 00 



Rates of Exchange. — Vary with the time. On New York, to -J-; 
Philadelphia and Baltimore, to \ ; Charleston, Mobile, New Orleans, St. 
Louis, Cincinnati, Chicago, \\ to 2 ; BufFalo, \ to 1 ; Albany and Providence, 
\ to \\ Hartford, Portland, Lowell, Springfield, New Bedford, Salem, J, 
No separate account is kept of Exchange. 



* The stock is owned exclusively by banks. 

t Including 825,000, Loan to the Commonwealth. 



36 



I5ANK COMMISSIONERS' REPORT. 



[Oct. 



SALEM BANK— SALEM. 

[March 16.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances 
Profits on hand 



Immediate Liabilities, 



$250,000 00 

74,284 00 

64,063 44 

1,938 96 

7,787 51 



$398,073 91 



$140,286 40 



Loan, 

Heal Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 



Immediate Resources, 



$350,242 47 

3,525 50 

37,232 00 

7,073 94 



$398,073 91 



$47,831 44 



Overdue or Suspended Paper, $6,790.88 .* Estimated loss, about $2,140. 



Liabilities of Directors, $47,150 00 

Number of shares owned by Directors, 52 

Loan on Stock of the Bank, (on 73 shares,) .... $4,695 50 
Greatest amount of Stock held by any one person or corporation, 193 shares. 
Highest Loan at any one time during the year, .... $369,076 71 
Proportion of Loan payable out of Salem, about . . One-half. 

" " on which Exchange is charged, . . Very small. 
Annual Expenses, about $3,100 00 



Rates of Exchange. — On Boston, ^ ; New York and Philadelphia, £ 
to \ ; Baltimore, \ to 1. Amount of charges for Exchange during the last 
year, perhaps $25. 



* This is independent of a loss of about §60,000 — in consequence of which this Bank petitioned 
the Legislature for a reduction of its capital stock. [See Appendix, No. 2.] 



1859.] 



PUBLIC DOCUMENT— No. 6. 



37 



ATTLEBOROUGH BANK— ATTLEBOROUGH. 

[March 21.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$100,000 00 

55,610 00 

11,723 22 

3,025 2-1 

19,523 89 


Loan, 

Heal Estate, 

Checks and Bills of 
other banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


8164,052 24 
7,500 00 

360 00 

14,094 51 

3,875 60 




$189,882 35 


8189,882 35 


Immediate Liabilities, 


870,358 46 


818,330 11 



Overdue or Suspended Paper, 815,628. Probable loss, 82,000. 



Liabilities of Directors, 881,813 00 

Number of shares owned by Directors, ..... 178 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 288 shares. 
Highest Loan at any one time during the year, .... 8164,052 00 
Proportion of Loan payable out of Attleborough, . . Seven-eighths. 
" " on which Exchange is charged, . . Seven-eighths. 
Annual Expenses, 82,000 00 



Rates of Exchange. — Rates vary with the time paper has to run. On 
Boston and New York, from 1 to f. The Bank discounts " a good deal of 6 
months' paper, and its exchanges are high," the cashier states ; but no exchange 
account is kept, and the amount of charges per year could not be ascertained. 



38 



BANK COMMISSIONERS' REPORT. 



[Oct. 



EXCHANGE BANK— SALEM. 

* [March 22.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


8200,000 00 

79,614 00 

77,790 74 

172 21 

21,066 98 


Loan, 

Ileal Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


-'2,012 30 
3,000 00 

8,550 59 

37,3^0 70 

7,750 34 




$378,643 93 


$378,643 93 


Immediate Liabilities, 


$157,576 95 


$53,631 63 



Overdue or Suspended Paper, $4,000. No loss expected. 



Liabilities of Directors, $49,000 00 

Number of shares owned by Directors, 45 

Loan on Stock of the Bank, ...... None. 

Greatest amount of Stock held by any one person or corporation, 109 shares. 
Highest Loan at any one time during the year, .... $353,814 89 

Proportion of Loan payable out of Salem, about . . Four-fifths. 

" " on which Exchange is charged, . . Small. 
Annual Expenses, about $3,000 00 



Rates of Exchange. — On Boston, to i ; New York and Philadelphia, 
1 to \ ; Baltimore, \ to f ; New Orleans, 1\ ; Cincinnati and Chicago, 1 ; 
St. Louis, 1 to 1{; Hartford, Lowell, New Bedford, and places in Essex 
county, J. Amount of charges for Exchange, $352.52. 



1859.] 



PUBLIC DOCUMENT— Xo. 6. 



39 



COMMERCIAL BANK— SALEM. 

[March 23.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


8200,000 00 

131,137 00 

58,923 08 

20,283 50 

30,900 73 


Loan, 
Real Estate, 

• 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


8392,510 23 
4,500 00 

2,192 44 
33,681 58 
11,420 06 




$444,304 31 


$444,304 31 


Immediate Liabilities, 


8213,313 58 


147,294 08 



Overdue or Suspended Paper, 81,804. Probable loss, 8587. 



Liabilities of Directors, . 8105,614 00 

Numbers of shares owned by Directors, ..... 94 

Loan on Stock of the Bank, (on 30 shares,) .... 81,500 00 
Greatest amount of Stock held by any one person or corporation, 147 shares. 
Highest Loan at any one time during the year, .... 8404,411 15 
Proportion of Loan payable out of Salem, .... Three-fourths. 

" " on which Exchange is charged, . . One-half. 
Annual Expenses, 83,500 00 



Rates of Exchange. — On Boston, nothing; New York, J; Philadel- 
phia and Baltimore, \ ; Charleston, 1 to 1J ; New Orleans, 1 ; Cincinnati and 
St. Louis, lto \\\ Chicago, 1\ to 2 ; Albany, Providence, Hartford, Portland, 
Lowell, New Bedford, J. Amount of charges for Exchange during the last 
year, 81,300. 



40 



BANK COMMISSIONERS' REPORT. 



[Oct. 



CITIZENS' BANK— WORCESTER. 

[March 25.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$150,000 00 

51,641 00 

59,576 64 

497 81 

43,677 15 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$261,832 79 
16,000 00 

1,090 35 
12,225 13 
14,244 33 




1305,392 60 


$305,392 60 


Immediate Liabilities, 


$111,715 45 


$27,559 81 



Overdue or Suspended Paper, none. 



Liabilities of Directors, Nothing. 

Number of shares owned by Directors, 207 

Loan ou Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 248 shares. 
Highest Loan at any one time during the year, .... $272,969 49 
Proportion of Loan payable out of Worcester, about . . Four-fifths. 

" "on which Exchange is charged, . . Varies. 
Annual Expenses, . $2,650 00 



Rates of Exchange. — Vary with the time paper has to run. On New 
York, Philadelphia, and Baltimore, \ to \ ; Louisville, \ ; Providence, and 
Hartford, \ to \ ; country towns in Massachusetts, } to \. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



41 



WKENTHAM BANK— WRENTHAM. 

[March 28.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on band, 


$150,000 00 

80,827 00 

7,547 10 

12,009 26 


Loan, 

Real Estate, 

Cbecks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$206,912 98 
1,000 00 

960 00 
31,023 88 
10,486 50 




1250,383 36 


$250,383 36 


Immediate Liabilities, 


$88,374 10 


142,470 38 



Overdue or Suspended Paper, $43,498. Eventual loss, uncertain. 



Liabilities of Directors, $21,867 00 

Number of shares owned by Directors, 127 

Loan on Stock of the Bank . . . ■ . . None. 
Greatest amount of Stock held by any one person or corporation, 31 shares. 
Highest Loan at any one time during the year, .... 219,374 71 
Proportion of Loan payable out of Wrentham, about . Three-fourths. 
" " on which Exchange is charged, about . Three-fourths. 
Annual Expenses, about $2,000 00 



Rates of Exchange. — On Boston, to \ ; New York and Philadelphia, 
\ to \ ; Baltimore, \ ; New Orleans, St. Louis, Chicago, \ and cost of collec- 
tion ; Albany, Providence, \ to \ ; Hartford, Portland, Lowell, New Bedford, 
Salem, \ to f . 



42 



BANK COMMISSIONERS' REPORT. 



[Oct. 



CHICOPEE BANK— SPRINGFIELD. 

[March 31.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$300,000 00 

188,307 00 

113,722 17 

19,202 9G 

47,181 46 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


re,i58 t8 

7,500 00 

• 

1.388 00 
00,260 15 
20,106 96 




$068,413 59 


$668,413 59 


Immediate Liabilities, 


$321,232 13 


$84,755 11 



Overdue or Suspended Paper, $5,838.33. No loss anticipated. 



Liabilities of Directors, . . . . . . . $35,684 00 

Number of shares owned by Directors, ..... 146 

Loan on Stock of the Bank, (on 33 shares,) .... $1,950 00 

Greatest amount of Stock held by any one person or corporation, 100 shares. 
Highest Loan at any one time during the year, .... $585,102 61 

Proportion of Loan payable out of Springfield, about . . One-half. 

" " on which Exchange is charged, . . Very small. 
Annual Expenses, about $5,100 00 



Rates of Exchange. — The rates charged are the current rates, and do 
not vary with the time the paper has to run. The amount of charges for 
Exchange during the last year has been less than $800. 



Note. — This bank has not been in the habit of keeping an " offering book," 
as required by Sect. 5, Ch. 93, Acts of 1843 ; but its officers promise it shall 
be done hereafter. 



1859.J 



PUBLIC DOCUMENT— No. 6, 



43 



MERCHANTS' BANK— NEWBURYPORT. 

[April 4.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


8210,000 00 

64,781 00 

70,958 89 

1,707 52 

7,868 84 


Loan, 

Real Estate, 

.Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$314,211 40 
5,300 00 

3,569 50 
11,306 05 
20,929 30 




$355,316 25 


$355,316 25 


Immediate Liabilities, 


$137,447 41 


$35,804 85 



Overdue or Suspended Paper, $21,800. Probable loss, $8,600. 



Liabilities of Directors, ' . . . $5,425 00 

Number of shares owned by Directors, 261 

Loan on Stock of the Bank, (on 38 shares,) * . $1,000 00 

Greatest amount of Stock held by anyone person or corporation, 1,306 shares. 
Highest Loan at any one time during the year, . . . $314,211 40 

Proportion of Loan payable out of Newburyport, about . Two-thirds. 

" " on which Exchange is charged, about One-twentieth. 
Annual Expenses, about $2,200 00 



Rates of Exchange. — Rates vary with the time the paper has to run. 
On Boston, to \ ; New York, Philadelphia, and Baltimore, -} to £. Amount 
of charges for Exchange during the last year, $425. 



* Par value of stock, $35 per share. 



44 



BANK COMMISSIONERS' REPORT. 



[Oct. 



FITCIIBURG BANK— FITCIIBURG. 

[April 8.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$250,000 00 

205,641 00 

76,494 15 

35,774 51 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$440,743 66 
3,000 00 

13,937 00 
63,769 23 
40,459 77 




$567,909 66 


8507,909 66 


Immediate Liabilities, 


$282,135 15 


$118,166 00 



Overdue or Suspended Paper, $3,332.18. Probable loss, nothing. 



Liabilities of Directors, ........ - 

Number of shares owned by Directors, 348 

Loan on Stock of the Bank, (on 35 shares,) .... $3,500 00 
Greatest amount of Stock held by any one person or corporation, 10,000 00 
Highest Loan at any one time during the year, .... 446,743 66 
Proportion of Loan payable out of Fitchburg, about . Two-thirds. 

" " on which Exchange is charged, . Less than oae-quarter. 
Annual Expenses, . $3,700 00 



Rates of Exchange. — On Boston, nothing; New York, Philadelphia, 
and Baltimore, -|- to \ ; Charleston, and New Orleans, 1-| ; Cincinnati and 
St. Louis, 1 ; Chicago, 2 ; Portland, f ; Albany, Providence, Hartford, 
Springfield, Lowcir, Salem, &c, \. No separate account is kept of Exchange, 
but the amount received the last year has been very small. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



45 



MECHANICS' BANK— NEWBURYPORT. 

[April 11.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$200,000 00 

87,373 00 

61,643 98 

865 96 

24,044 38 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


$325,943 63 
4,500 00 

2,448 00 
19,671 87 
21,363 82 




$373,927 32 


$373,927 32 


Immediate Liabilities, 


$149,8S2 94 


$43,483 69 



Overdue or Suspended Paper, $4,031. Probable loss, about 25 per cent. 



Liabilities of Directors, $20,780 00 

Number of shares owned by Directors, 88 

Loan on Stock of the Bank, (on 9 shares,) .... $440 00 
Greatest amount of Stock held by any one person or corporation, 218 shares. 
Highest Loan at any one time during the year, .... $350,163 87 
Proportion of Loan payable out of Newburyport, about . One-quarter. 

" " on which Exchange is charged, about . One-sixth. 
Annual Expenses, about $2,200 00 



Rates of Exchange. — On all places, par to £. About $1,500 is the 
amount charged for Exchange during the last year. 



46 



BANK COMMISSIONERS' REPORT. 



[Oct. 



WAMESIT BANK— LOWELL. 

[April 12.] 



Capital, . 


$150,000 00 


Loan, 


1247,216 29 


Circulation, 


88,839 00 


Keal Estate, 


12,822 46 


Deposits, . 
Bank Balances, 
Profits on hand, 


55,918 13 
13,386 49 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


,7,500 00 

G,016 00 






Bank Balances, 


30,571 02 






Specie, 

Immediate Resources, 


4,017 85 




$308,143 02 


$308,143 62 


Immediate Liabilities, 


$144,757 13 


$40,604 87 



Overdue or Suspended Paper, $30,318. Probable loss, 25 per cent, at least. 



Liabilities of Directors, $30,165 00 

Number of shares owned by Directors, ..... 130 

Loan on Stock of the Bank, (on 20 shares,) .... $1,800 00 
Greatest amount of Stock held by any one person or corporation, 100 shares. 
Highest Loan at any one time during the year, .... $275,760 00 
Proportion of Loan payable out of Lowell, about . . One-fourth. 
" " on which Exchange is charged, . Very small. 
Annual Expenses, about $2,150 00 



Rates of Exchange. — On Boston and New York, generally nothing ; 
Philadelphia, from -| to \. Amount of charges for Exchange during the last 
year, perhaps $50. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



47 



MERCHANTS' BANK— LOWELL. 

[April 13.] 



Capital, . 


8100,000 oo ; 


Loan, 


$173,942 09 


Circulation, 


78,050 00 


Real Estate, 


12,000 00 


Deposits, . 
Bank Balances. 
Profits on hand, 


2S,768 5S 
1,191 G5 
6,300 39 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


5,000 00 
5,304 19 






Bank Balances, . 


12,935 20 






Specie, 

Immediate Resources, 


5,129 14 




§214,310 62 


$214,310 62 


Immediate Liabilities, 


$108,010 23 


$23,368 53 



Overdue or Suspended Paper, $3,804.50. Probable loss, $2,500. 



Liabilities of Directors, $22,029 00 

Number of shares owned by Directors, 158 

Loan on Stock of the Bank, (on 55 shares,) .... $4,200 00 
Greatest amount of Stock held by any one person or corporation, 59 shares. 
Highest Loan at any one time during the year, .... $173,942 09 
Proportion of Loan payable out of Lowell, . . . One-third. 



on which Exchange is charged, 



None. 



Annual Expenses, $1,750 00 



Rates of Exchange. — On Philadelphia and Baltimore, J; Charleston, 
1% ; Mobile and New Orleans, 1-|. There have been no charges for Exchange 
during the last vear. 



48 



PUBLIC DOCUMENT— No. G. 



[Oct. 



WAMSUTTA BANK— FALL RIVER. 

[April 14.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$100,000 00 
47,369 00 
37,239 G4 

3,982 00 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$154,186 86 

7,705 24 

17,597 44 

9,101 10 




$188,590 64 


$188,590 64 


Immediate Liabilities, 


$84,608 64 


$34,403 78 



Overdue or Suspended Paper, $3,150. Probable loss, one-half. 



Liabilities of Directors, $63,397 00 

Number of shares owned by Directors, 113 



Loan on Stock of the Bank, 



None. 



Greatest amount of Stock held by any one person or corporation, 180 shares. 
Highest Loan at any one time during the year, .... $172,370 18 
Proportion of Loan payable out of Fall River, . . Fourteen-fifteenths. 
" " on which exchange is charged, . Fourteen-fifteenths. 
Annual Expenses, about . $1,500 00 



Rates of Exchange. — On Boston, New York, Providence, New Bed- 
ford, \. Amount of charges for Exchanges during the last year, about 
$1,100. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



49 



MASSASOIT BANK— FALL RIVER. 

[April 15.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$200,000 00 

61,030 00 

37,312 72 

887 37 

18,146 45 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$275,341 64 

8,404 55 

25,030 65 

8,599 70 




$317,376 54 


$317,376 54 


Immediate Liabilities, 


$99,230 09 


$42,034 90 



Overdue or Suspended Paper, $9,729.90. Probable loss, nothing. 



Liabilities of Directors, $87,260 00 

Number of shares owned by Directors, 247 

Loan on Stock of the Bank, (on 10 shares,) .... $700 00 
Greatest amount of Stock held by any one person or corporation, 422 shares. 
Highest Loan at any one time during the year, .... $300,472 47 
Proportion of Loan payable out of Fall River, about . . Three-fourths. 
" " on which Exchange is charged, nearly . Three-fourths. 
Annual Expenses, about $2,000 00. 



Rates of Exchange. — Yary somewhat with the time paper has to run. 
On Boston and New York, to \ ; Philadelphia \ to f ; Baltimore, \ to \ ; 
St. Louis, Chicago, 1 to \\\ Albany, Hartford, Portland, \ to \\ Providence, 
Lowell, New Bedford, \ ; Nantucket, \. Amount of charges for Exchange 
during the last year, about $1,600. 
7 



r,o 



BANK COMMISSIONERS' REPORT. 



[Oct. 



BEDFORD COMMERCIAL BANK— NEW BEDFORD. 

[April 19.] 



Capital, . 


$000,000 00 


Loan, 


$758,443 01 


Circulation, 


112,345 00 


Real Estate, 


16,800 00 


Deposits, . 
Bank Balances, 
Profits on hand, 


205,397 48 

7,279 64 

14,767 77 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


5,000 00 
1,113 57 






Bank Balances, . 


146,842 23 






Specie, 

Immediate Resources, 


11,591 08 




$939,789 89 


$939,789 89 


Immediate Liabilities, 


$325,022 12 


$159,546 88 



Overdue or Suspended Paper, $5,922.68. Probable loss, $606. 



Liabilities of Directors, $286,915 00 

Number of shares owned by Directors, 213 

Loan on Stock of the Bank, (on 10 shares,) . . . $900 00 

Greatest amount of Stock held by any one person or corporation, 750 shares. 
Highest Loan at any one time during the year, .... $984,153 78 
Proportion of Loan payable out of New Bedford, about . Three-eighths. 

" " on which Exchange is charged, . . Very small. 
Annual Expenses, about $4,000 00 



Rates of Exchange. — Rates vary according to demand. On Boston 
and New York, nothing ; Philadelphia, Baltimore, Albany, Providence, and 
towns in Rhode Island, % ; Hartford, i ; New London, and Stonington, \ ; 
Fall River, i to J; Portland, Lowell, Nantucket, Salem, \. Amount of 
charges for Exchange during the last year, $1,200. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



51 



MONSON BANK— MONSON. 

[April 25.] 



Capital, . 


$150,000 00 


Loan, 


$235,771 44 


Circulation, 


100,862 00 


Real Estate, 


6,626 62 


Deposits, . 
Bank Balances, 
Profits on hand, 


18,304 70 

1,324 09 

15,321 60 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


3,000 00 
3,698 89 






Bank Balances, . 


26,638 01 






Specie, 

Immediate Resources, 


10,077 43 




$285,812 39 


$285,812 39 


Immediate Liabilities, 


$120,490 79 


$40,414 33 



Overdue or Suspended Paper, $25,128.99 * Probable loss, not over $12,681.99. 



Liabilities of Directors, $20,287 00 

Number of shares owned by Directors, 132 

Loan on Stock of the Bank, (on 27 shares,) .... $70000 

Greatest amount of Stock held by any one person or corporation, 53 shares. 
Highest Loan at any one time during the year, .... $248,340 73 
Proportion of Loan payable out of Monson, from . . •§ to -| . 

" " on which Exchange is charged, about . One-half. 
Annual Expenses, about $2,200 00 



Rates of Exchange. — Vary with the time the paper has to run. On 
Boston, Albany, Hartford, Springfield, Providence, J to \ ; on New York, 
Philadelphia and Baltimore, \ to 1. Amount of charges for Exchange during 
the last year, about $500. 



* $11,920.84 had been received on the above at the time of examination. 



52 



HANK COMMISSIONERS' REPORT. 



[Oct. 



SOUTIIBRIDGE BANK— SOUTHBRIDGE. 

[April 2G.1 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$150,000 00 

117,075 00 

31,222 76 

15,840 79 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


8256,391 20 
2,600 00 

3,192 68 
34,387 57 
17,567 10 




$314,138 55 


$314,138 55 


Immediate Liabilities, 


$148,297 76 


355,147 35 



Overdue or Suspended Paper, $17,334. Probable loss, $1,803. 



Liabilities of Directors, $24,363 00 

Number of shares owned by Directors, 46 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 226 shares. 
Highest Loan at any one time during the year, .... $263,483 95 
Proportion of Loan payable out of Southbridge, about . Seven-tenths. 

" " on which Exchange is charged, . . Very small. 
Annual Expenses, about $1,750 00 



Rates of Exchange. — On Boston and New York, nothing ; Philadel- 
phia, ^ to \ ; Baltimore, \ ; St. Louis, 1 ; Albany, Providence, Hartford, Port- 
land, Springfield, Worcester, Lowell, &c, \. Amount of charges for Exchange 
during the past year, $167.82. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



53 



WORCESTER COUNTY BANK— BLACKSTONE. 

[April 28.] 



Capital, . 


$100,000 00 


i Loan, 


$134,442 66 


Circulation, 


37,728 00 


! 

Bank of Mutual Re- 




Deposits, . 


6,839 96 


demption, 
Checks and Bills of 


3,000 00 


Bank Balances, 


1,089 18 


other Banks, . 


707 00 


Profits on hand, 


2,686 88 , 


j Bank Balances, 


7,080 48 






1 Specie, 

1 Immediate Resources, 


3,113 88 




$148,344 02 


$148,344 02 


Immediate Liabilities, 


$45,657 14 


810,901 36 



Overdue or Suspended Paper, SI, 575. No loss expected. 



Liabilities of Directors, $19,177 00 

Number of shares owned by Directors, . . . . . 112 

Loan on Stock of the Bank, (on 65 shares,) . . • . . $5,790 00 
Greatest amount of Stock held by any one person or corporation, 61 shares. 
Highest Loan at any one time during the year, .... $143,478 50 
Proportion of Loan payable out of Blackstone, . . . Three-fourths 

" " on which Exchange is charged, about . One-half. 
Annual Expenses, about $1,000 00 



Rates of Exchange. — Vary with the time, &c. On Boston, Ncav York, 
Philadelphia and Providence, J; Baltimore, J; Hartford, Portland, Lowell, 
New Bedford, Salem, £. Amount of charges for Exchange, &c, about $400. 



54 



BANK COMMISSIONERS' REPORT. 



[Oct. 



BLACKSTONE BANK— UXBRIDGE. 

[April 29.] 



Capital, . 


$100,000 00 


Loan, 


$161,360 85 


Circulation, 
Deposits, . 
Bank Balances, 


71,671 75 

34,508 85 

8 02 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


5,000 00 
' 74 00 


Profits on hand, 


16,078 96 


Bank Balances, . 


47,015 64 






Specie, 

Immediate Resources, 


8,817 09 




$222,267 58 


$222,267 58 


Immediate Liabilities, 


$106,188 62 


$55,906 73 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $6,866 00 

Number of shares owned by Directors, 119 

Loan on Stock of the Bank, (on seven shares,) .... $700 00 

Greatest amount of Stock held by any one person or corporation, 63 shares. 

Highest Loan at any one time during the year, .... - 

Proportion of Loan payable out of Uxbridge, . . . . f to £ 

" " on which. Exchange is charged, about . . Half. 

Annual Expenses, $1,500 00 



Rates of Exchange. — Vary with the time the paper has to run. On 
Boston, and New York, \ to J; Philadelphia, \ to f ; Baltimore, \ to 1 ; 
Louisville, and Cincinnati, 2 ; Hartford, f to 1 ; Worcester, Milford, Grafton, 
&c, \ to \ ; Providence, \ to \. Amount of charges for Exchange the last 
year, to October, 1858, $617. 



1859.J 



PUBLIC DOCUMENT— No. 6. 



55 



LEICESTER BANK— LEICESTER. 

[May 5.] 



Capital, 


$200,000 00 


1 Loan, 


$389,067 21 


Circulation, 


156,222 00 


! Bank of Mutual Re- 




Deposits, . 


37,346 37 


demption, 
j Checks and Bills of 


5,000 00 


Bank Balances, 


1,199 66 


other Banks, . 


3,411 64 


Profits on hand, 


16,682 76 


Bank Balances, . 


4,471 90 






Specie, 

Immediate Resources, 

I 


9,500 04 




1411,450 79 


$411,450 79 


Immediate Liabilities, 


$194,768 03 


$17,383 58 



Overdue or Suspended Paper, $16,891.82 Probable loss, about one-half. 



Liabilities of Directors, $14,187 00 

Number of shares owned by Directors, ..... 325 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, $22,000 00 
Highest Loan at any one time during the year, . . . 397,882 67 

Proportion of Loan payable out of Leicester, about . . Three-fourths. 

" " on which Exchange is charged, . . -| to \. 
Annual Expenses, about $2,000 00 



Rates of Exchange. — Rates vary with the time the paper has to run. 
On Boston, to \ ; New York, - 1 - to \ ; Albany, Philadelphia, and Balti- 
more, \ ; Buffalo, 1 ; Providence and Worcester, \ \ Hartford, Portland, 
Springfield, and other Massachusetts towns, \. Amount of charges for Ex- 
change during the last year, about $1,000. 



M 



BANK COMMISSIONERS' REPORT. 



[Oct. 



MILLBURY BANK— MILLBUltY. 

[May 6.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$100,000 00 
65,587 00 
21,161 99 

5,711 53 


Loan, 

Ileal Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Lnmediate Resources, 


$167,714 66 

3 00 

19,240 70 

5,502 16 




$192,460 52 | 

1 


$192,460 52 


Immediate Liabilities, 


$86,748 99 


$24,745 86 



Overdue or Suspended Paper, $575. Probable loss, 50 per cent. 



Liabilities of Directors, $34,615 00 

Number of shares owned by Directors, 82 

Loan on Stock of the Bank, (on 3 shares,) .... $300 00 
Greatest amount of Stock held by any one person or corporation, 75 shares. 
Highest Loan at any one time during the year, .... $175,876 43 
Proportion of Loan payable out of Millbury, . . . Three-fourths. 

" " on which Exchange is charged, . . From £ to |. 
Annual Expenses, about . . $1,400 00 



Rates of Exchange. — On Boston, to -| ; New York and Philadelphia, 
1 to \ ; Louisville, Cincinnati, St. Louis, Chicago, \ to 1 ; Providence, \ to \ ; 
Worcester, to \. Amount of charges for Exchange during the last year, 
from $600 to $900. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



57 



CABOT BANK— CHICOPEE. 

[May 10.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$150,000 00 

97,531 00 

26,351 64 

837 45 

15,518 19 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$265,203 87 

337 12 

13,530 20 

■ 

11,167 09 




$290,238 28 


$290,238 28 


Immediate Liabilities, 


$124,720 09 


$25,034 41 



Overdue or Suspended Paper, $1,500. Probable loss, $1,000. 



Liabilities of Directors, $27,846 00 

Number of shares owned by Directors, ..... 43 

Loan on Stock of the Bank, (on 5 shares,) .... $300 00 

Greatest amount of Stock held by any one person or corporation, 85 shares. 
Highest Loan at any one time during the year, .... $265,203 87 
Proportion of Loan payable out of Chicopee, | to f . 

" on which Exchange is charged, perhaps -^V 
Annual Expenses, about $2,300 00 



Rates of Exchange. — On Boston and New York, ; Philadelphia and 
Baltimore, 1; Albany, Providence, Hartford, Portland, Lowell, New Bedford, 
Salem, £ ; Springfield, J. Amount of charges for Exchange during the last 
year, $200 to $300. 

8 



58 



PUBLIC DOCUMENT— No. G. 



[Oct. 



NORTHAMPTON BANK— NORTHAMPTON. 

[May 11.] 



Capital, 
Circulation, 
Deposits, . 
Rank Balances, 
Profits on hand, 



Immediate Liabilities, 



$200,000 00 

198,415 00 

87,641 04 

3,565 83 

50,405 64 



$540,027 51 



$289,021 87 



Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 



Immediate Resources, 



1373,808 

3,500 00 

3,109 90 
141,398 70 * 
18,210 28 



$540,027 51 



$162,718 88 



Overdue or Suspended Paper, $27,920.81. Probable loss, $5,019. 



Liabilities of Directors, $21,338 00 

Number of shares owned by Directors, 188 

Loan on Stock of the Bank, (on 80 shares,) .... $5,100 
Greatest amount of Stock held by any one person or corporation, 211 shares. 
Highest Loan at any one time during the year, .... $376,962 52 
Proportion of Loan payable out of Northampton, about . One-half. 

" " on which exchange is charged, . . . Small. 
Annual Expenses, about $3,600 00 



Rates of Exchange. — On Philadelphia and Albany, J ; Hartford and 
Springfield, \ to \ ; Buffalo, f ; Providence, Portland, Lowell, and New Eng- 
land generally, \ ; places in the State of New York, \ ; other places, \ and 
cost. Amount of charges for Exchanges during the last year, $2,470. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



59 



HOLYOKE BANK— NORTHAMPTON. 

[May 12.] 



Capital, . 


$200,000 00 


Loan, 


$358,620 58 


Circulation, 
Deposits, . 
Bank Balances, 


147,680 00 

46,892 13 

4,420 97 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


3,000 00 
20 00 


Profits on hand, 


16,047 24 ; 


Bank Balances, . 


41,849 59 






Specie, 

Immediate Resources, 


11,550 17 




$415,040 34 


$415,040 34 


Immediate Liabilities, 


$198,993 10 


$53,419 76 



Overdue or Suspended Paper, $13,468. Probable loss, $5,044. 



Liabilities of Directors, $49,334 00 

Number of shares owned by Directors, 275 

Loan on Stock of the Bank, (on 5 shares,) . . . . $100 00 

Greatest amount of Stock held by any one person or corporation, 141 shares. 
Highest Loan at any one time during the year, .... $367,887 39 
Proportion of Loan payable out of Northampton, about Three-fifths. 

" " on which Exchange is charged, not over One-twentieth. 
Annual Expenses, about $3,000 00 



Hates of Exchange. — On Boston and New York, to \ ; Philadel- 
phia, \ ; Baltimore, \ ; Charleston and Mobile, 1 ; Cincinnati and St. Louis, 1^ ; 
Chicago, 2\ ; Buffalo and Rochester, -* ; Albany, Troy, Providence, New 
Haven, Portland, Springfield, Salem, &c, \. Amount of charges for Exchange 
during the last year, about $2,500. 



(JO 



BANK COMMISSIONERS' REPORT. 



[Oct 



LANCASTER BANK—LANCASTER. 

[May 17.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand. 


$200,000 00 
141,119 00 

20,093 59 

24,382 53 

i 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$356,661 55 

1,000 00 

100 53 

5,916 00 

21,917 04 




$385,595 12 


$385,595 12 


Immediate Liabilities, 


$161,212 59 


$27,933 57 



Overdue or Suspended Paper, $3,622.90. Probable loss, $520. 



Liabilities of Directors, $24,747 00 

Number of shares owned by Directors, 106 

Loan on Stock of the Bank, (on 19 shares,) .... $1,595 00 
Greatest amount of Stock held by any one person or corporation, 

Highest Loan at any one time during the year, .... 363,094 90 

Proportion of Loan payable out of Lancaster, probably . | to -|. 

u " on which Exchange is charged, . . Quite small. 

Annual Expenses, $2,900 00 



Rates of Exchange. — On New York, Philadelphia, and Baltimore, 1 
to \ ; New Orleans, Chicago, 2 ; Buffalo, f ; Albany, Providence, Hartford, 
Lowell, New Bedford, \. Amount of charges for Exchange, very small ; no 
separate account' is kept. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



61 



OLD COLONY BANK— PLYMOUTH. 

[May 20.] 



Capital, 


$210,000 00 


j Loan, 


$307,301 23 


Circulation. 


138,224 00 


Real Estate, 


5,618 75 


Deposits, . 
Bank Balances, 
Profits on hand. 


66,401 17 

102 00 

11,685 81 


■ Bank of Mutual Re- 
demption, 

| Checks and Bills of 
other Banks, . 


9,000 00* 
4,366 04 






Bank Balances, . 


24,409 96 






| Specie, 

! Immediate Resources, 


15,777 00 




$126,472 98 


$426,472 98 


Immediate Liabilities, 


$204,787 17 


$14,553 00 



Overdue or Suspended Paper, $5,350. Probable loss, $850. 



Liabilities of Directors, . $33,756 00 

Numbers of shares owned by Directors, ..... 49 

Loan on Stock of the Bank, (on 18 shares,) .... $1,270 00 
Greatest amount of Stock held by any one person or corporation, 300 shares. 
Highest Loan at any one time during the year, .... $380,932 81 
Proportion of Loan payable out of Plymouth, about . . . Two-thirds. 
" " on which Exchange is charged, . . . Very small. 
Annual Expenses, $2,800 00 



Rai Efl CHANGE. — No fixed rates — they \i\ry according to time and 

place No separate account has been kept of receipts from Exchange; they 
have been very small. 



62 



BANK COMMISSIONERS' REPORT. 



[Oct. 



GRAFTON BANK— GRAFTON. 

[May 24.] 



Capital, . 


$100,000 00 


Loan, 


$155,440 93 


Circulation, 


44,373 00 


Real Estate, 


2,000 00 


Deposits, . 
Bank Balances, 
Profits on hand, 


28,301 13 
2,643 09 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


3,000 00 
377 60 






Bank Balances, . 


9,459 10 






Specie, 

Immediate Resources, 


5,039 59 




$175,317 22 


$175,317 22 


Immediate Liabilities, 


$72,674 13 


$14,876 29 



Overdue or Suspended Paper, $11,107. Probable loss, $4,092. 



Liabilities of Directors, $35,735 00 

Number of shares owned by Directors, 220 

Loan on Stock of the Bank, (on 20 shares.) .... $550 00 
Greatest amount of Stock held by any one person or corporation, 100 shares. 
Highest Loan at any one time during the year, .... $155,440 93 
Proportion of Loan payable out of Grafton, about . . Large. 

" " on which Exchange is charged, . . From \ to f. 
Annual Expenses, about $1,500 00 



Rates of Exchange. — Vary with the time. On Boston, \ to \ ; New 
York and Philadelphia, \ to \ ; Cincinnati, \ to f ; Providence, Hartford, 
Portland, Springfield, Lowell, Salem, &c, \. Amount of charges for Ex- 
change during the last year, $600 to $700. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



63 



NORTHBOROUGH BANK— NORTHBOROUGH. 

[May 25.] 



Capital, . 


$100,000 00 


Loan, 


. 


$181,311 72 


Circulation, 


86,992 00 


Real Estate, 


• 


2,000 00 


Deposits, . 
Bank Balances, 
Profits on hand, 


39,730 38 
13,085 50 ■ 


Bank of Mutual 
demption, 

Checks and Bills 
other banks, . 

Bank Balances, . 


Re- 

of 


3,000 00 

1,635 60 
41,493 39 






Specie, 

Immediate Resources, 


10,367 17 




$239,807 88 j 


$239,807 88 


Immediate Liabilities, 


$126,722 38 


$53,496 16 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $54,783 00 

Number of shares owned by Directors, ..... 396 

Loan on Stock of the Bank, ...... None. 

Greatest amount of Stock held by any one person or corporation, 136 shares. 
Highest Loan at any one time during the year, .... $194,553 01 

Proportion of Loan payable out of Northborough, probably , | or £. 

" on which Exchange is charged, perhaps One-eighth. 
Annual Expenses, about $1,400 00 



Bates of Exchange. — This Bank has not for some time charged any 
exchange, except on places where the bank had to pay exchange, and then 
only the cost of collection. Amount of charges during the last year, $143.46. 



04 



BANK COMMISSIONERS' REPORT. 



[Oct. 



SAFETY FUND BANK— BOSTON. 

[May 30.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$600,000 00 

89,980 00 
319,588 19 
101,816 97 

19,153 0G 


T 
| Loan, 

Heal Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


$980,207 73 

72,522 83 
13,399 15 
G4,438 51 




$1,130,568 22 


$1,130,568 22 


Immediate Liabilities, 


3511,415 16 


$150,360 49 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $48,967 00 

Number of shares owned by Directors, 560 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 200 shares. 
Highest Loan at any one time during the year, .... $994,772 79 
Proportion of Loan payable out of Boston, about . . One-eighth. 
" " on -which Exchange is charged, about . One-eighth. 
Annual Expenses, about $6,500 00 



Rates of Exchange. — On New York Philadelphia, and Baltimore, i to 
A ; Charleston, Mobile, and New Orleans, 1 to 1^ ; Louisville, Cincinnati and 
St. Louis, 1 to 2 ; Chicago, 2 to 3 ; Providence, \ to \ ; all other New England 
places, about \. Amount of charges for Exchange, about $1,000 for 4 months. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



65 



SPRINGFIELD BANK— SPRINGFIELD. 

[June 3.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$300,000 00 

136,028 00 

60,513 77 

54 35 

25,839 06 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$181,047 48 
7,200 00 

1,730 91 
22,101 54 
10,355 25 




$522,435 18 


$522,435 18 


Immediate Liabilities, 


$196,596 12 


$34,187 70 



Overdue or Suspended Paper, $14,948.83. Probable loss, $3,900. 



Liabilities of Directors, $1,513 00 

Number of shares owned by Directors, 93 

Loan on Stock of the Bank, ...... None. 

Greatest amount of Stock held by any one person or corporation, . $20,000 00 
Highest Loan at any one time during the year, .... 481,047 48 

Proportion of Loan payable out of Springfield, . . . From J to f . 

" " on which Exchange is charged, not over One-tenth. 
Annual Expenses, about $4,500 00 



Rates of Exchange. — Vary with the time. On Boston, New York, 

Philadelphia and Baltimore, to f ; New Orleans, to \ ; Cincinnati and St. 

Louis, | to 1 ; Chicago, 1 to 1-| ; Albany, \ to \ ; Providence, \ ; Hartford, 

to \ ; Portland, Lowell, New Bedford, \ ; Salem, \. Amount of charges 

for Exchange during the last year, about $500. 
9 



GQ 



PUBLIC DOCUMENT— No. 6. 



[Oct. 



PYNCIION BANK— SPRINGFIELD. 

[Juno 4.] 



Capital, 


$150,000 00 


Loan, 


$282,077 37 


Circulation, 


100,133 00 


Heal Estate, 


15,000 00 


Deposits, . 
Bank Balances, 
Profits on hand, 


57,408 22 

3,973 90 

16,840 33 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


3,000 00 
268 00 






Bank Balances, . 


21,608 84 






Specie, 

Immediate Resources, 


5,801 24 




$328,355 45 


$328,355 45 


Immediate Liabilities, 


$101,515 12 


$27,678 08 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $24,758 00 

Number of shares owned by Directors, 128 

Loan on Stock of the Bank, (on 12 shares,) .... $1,000 00 
Greatest amount of Stock held by any one person or corporation, 228 shares. 
Highest Loan at any one time during the year, .... $306,631 49 
Proportion of Loan payable out of Springfield, about . One-half. 

" " on which exchange is charged, . . Very small. 
Annual Expenses, about $3,500 00 



Rates of Exchange. — On Boston, New York and Philadelphia, \\ 
Buffalo, \ ; Hartford \. Amount of charges for Exchange during the last 
year, $1,316.10. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



67 



CONWAY BANK— CONWAY. 

[June 6.] 



Capital, . 


$150,000 00 


Loan, 


§257,042 49 


Circulation. 
Deposits, . 
Bank Balances, 


102,298 00 
28,147 61 


I Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


2,000 00 
3,603 08 


Profits on hand, 


11,181 23 


Bank Balances, . 


21,673 24 






Specie, 

Immediate Resources, 


7,248 03 




$291,626 81 


$291,626 84 


Immediate Liabilities, 


i 
$130,445 61 

1 


$32,584 35 



Overdue or Suspended Paper, $9,000. Probable loss, 40 to 50 per cent. 



Liabilities of Directors, 842,784 00 

Number of shares owned by Directors, 108 

Loan on Stock of the Bank, (on 51 shares,) .... $4,500 00 
Greatest amount of Stock held by any one person or corporation, 79 shares. 
Highest Loan at any one time during the year, .... $278,519 79 
Proportion of Loan payable out of Conway, . . . One-half. 
" " on which Exchange is charged, about . One-half. 
Annual Expenses, about $2,300 00 



Rates of Exchange. — Rates vary. On Boston and New York, to \ ; 
Philadelphia, J to | ; Albany, J; Providence, -J ; Hartford, \ to \; Springfield, 
\ to J. Amount of charges for Exchange during the last year, $1,800. 



68 



BANK COMMISSIONERS' REPORT. 



[Oct. 



SIIELBURNE FALLS BANK— SIIELBURNE. 

[June 7.] 



Capital, . 


1100,000 00 


Loan, 


$152,243 56 


Circulation, 


68,237 00 


Real Estate, 


8,759 41 


Deposits, . 
Bank Balances, 
Profits on hand, 


10,004 64 

62 37 

3,709 36 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


3,000 00 
2,406 25 






Bank Balances, . 


9,641 28 






Specie, 

Immediate Resources, 


5,962 87 




$182,013 37 


$182,013 37 


Immediate Liabilities, 


$78,304 01 


$18,010 40 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $17,082 00 

Number of shares owned by Directors, 143 

Loan on Stock of the Bank, (on 128 shares.) .... $11,55500 
Greatest amount of Stock held by any one person or corporation, 49 shares. 
Highest Loan at any one time during the year, .... $162,129 97 
Proportion of Loan payable out of Shelburne, about . . One-half. 
" " on which Exchange is charged, about . One-half. 
Annual Expenses, about $1,800 00 



Rates of Exchange. — Rates vary with the time. On Boston, and 
New York, -|- to ^ ; Philadelphia, \ to f ; Baltimore, \ to 1 ; New Orleans, 
Cincinnati, St. Louis, Chicago, f to 1-| ; on other places, cost of collection. 
Amount of charges for Exchange during the last year, about $1,200. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



69 



MERCHANTS' BANK— SALEM. 

[June 13.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$200,000 00 

121,105 00 

87,110 61 

1,259 05 

12,270 83 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$377,047 12 

7,875 13 
26,490 72 
10,332 55 




$121,745 52 

I 


$421,745 52 


Immediate Liabilities, 


$209,474 69 


$44,698 40 



Overdue or Suspended Paper, $10,455.76. Probable loss, not over 25 per cent 



Liabilities of Directors, $94,000 00 

Number of shares owned by Directors, 34 

Loan on Stock of the Bank, (on 15 shares,) .... $650 00 

Greatest amount of Stock held by any one person or corporation, 871 shares. 
Highest Loan at any one time during the year, .... $398,945 96 
Proportion of Loan payable out of Salem, .... Large. 

" " on which Exchange is charged, . . Very small. 

Annual Expenses, about ........ $3,000 00 



Kates of Exchange. — Vary with the time. On Boston and New York, 
\ to £ ; Philadelphia and Baltimore, \ to 1 ; Cleveland, Ohio, 1 ; Providence, 
\ to f. No Exchange account is kept. 



70 



BANK COMMISSIONERS' REPORT. 



[Oct. 



BROADWAY BANK— BOSTON. 



[June 14.] 



Capital, . 


$150,000 00 


Loan, 


$236,334 55 


Circulation, 
Deposits, . 
Bank Balances, 


55,841 00 
60,266 74 


Real Estate, and fix- 
tures, 

Checks and Bills of 
other Banks, . 


10,114 79 
' 2,335 26 


Profits on hand, 


7,196 27 


Bank Balances, . 


19,222 43 






Specie, 

Immediate Resources, 


5,296 98 




$273,304 01 


$273,304 01 


Immediate Liabilities, 


$116,107 74 


$26,854 67 



Overdue or Suspended Paper, $16,240. Probable loss, about $2,000. 



Liabilities of Directors, $12,582 00 

Number of shares owned by Directors, 672 

Loan on Stock of the Bank, (on 32 shares,) .... $3,050 00 
Greatest amount of Stock held by any one person or corporation, 510 shares 
Highest Loan at any one time during the year, .... $256,000 00 
Proportion of Loan payable out of Boston, about . . One-eighth. 
" " on which Exchange is charged, about One tenth. 
Annual Expenses, about $2,400 00 



Rates of Exchange. — Vary with the time. On New York, to J ; 
Philadelphia and Baltimore, 1 to \ ; Chicago, 1 to 11 ; Providence, Hartford, 
Portland, Springfield, Lowell, New Bedford, Salem, \ to \. Amount of 
charges for Exchange during the last year, about $1,250. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



71 



BUNKER HILL BANK— CHARLESTOWN. 

[June 16.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$300,000 00 
180,920 00 
307,128 23 

50,517 68; 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


§599,878 26 
24,000 00 

23,741 90 

131,829 60 

59,116 15 




1838,565 91 j 

1 


§838,565 91 


Immediate Liabilities, 


,1188,048 23 


§214,687 65 



Overdue or Suspended Paper, none.* 



Liabilities of Directors, §29,109 00 

Number of shares owned by Directors, ..... 245 

Loan on Stock of the Bank, (on 89 shares,) .... §6,150 00 
Greatest amount of Stock held by anyone person or corporation, 114 shares. 
Highest Loan at any one time during the year, .... §599,878 26 
Proportion of Loan payable out of Charlestown, . . More than half. 



" on which Exchange is charged, 



Not one-tenth. 



Annual Expenses, §5,000 00 



Rates of Exchange. — On New York and Philadelphia, £ to \ ; Balti- 
more, \. Amount of charges for Exchange during the last year, about §600. 



♦This Bank had not lost a dollar since the last visit of the Commissioners, two yeans previous to 
the present examination ; nor was it called on to renew a note during the pressure of 1857. 



72 



BANK COMMISSIONERS' REPORT. 



[Oct. 



ADAMS BANK— ADAMS. 

[Juno 23.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$350,000 00 

142,868 00 

33,281 79 

2,426 96 

10,611 57 1 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$503,823 27 
8,815 00 

1,576 33 

18,970 12 

6,003 60 




$539,188 32 


$539,188 32 


Immediate Liabilities, 


$178,576 75 


$26,550 05 



Overdue or Suspended Paper, $3,550. Probable loss, $2,250. 



Liabilities of Directors, $76,674 00 

Number of shares owned by Directors, 403 

Loan on Stock of the Bank, (on 30 shares,) .... $2,40000 
Greatest amount of Stock held by any one person or corporation, 223 shares. 
Highest Loan at any one time during the year, .... $545,092 18 
Proportion of Loan payable out of Adams, about . . Three-fourths. 
" " on which Exchange is charged, . . Less than -g 1 ^. 
Annual Expenses, $3,200 00 



Rates of Exchange. — Vary with the time. On Boston and New York, 
; Philadelphia, " 3 days time;" Baltimore, \ ; Chicago, 1 ; Buffalo, \\ Albany, 
; Providence and Hartford, i ; Portland, \ ; Springfield, Lowell, Salem, \ ; 
other places, cost of collection. Amount of charges for Exchange during 
the last year, about $3,000. 



1859.] 



PUBLIC DOCUMENT— Xo. 6. 



73 



MAHAIWE BANK— GREAT BARRIXGTON. 

[June 27.] 



Capital, 


§200,000 00 i 


L 

Loan, 


1353,217 65 


Circulation, 


127,629 00 


Real Estate, 


2,733 92 


Deposits, . 
Bank Balances, 
Profits on hand, 


39,384 2L 

3,698 62 

29,232 55 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


5,000 00 
1,985 26 






Bank Balances, . 


24,892 23 






Specie, 

Immediate Resources, 


12,115 32 




8399,944 38 


$399,944 38 


Immediate Liabilities, 


$170,711 83 


$38,992 81 



Overdue or Suspended Paper, §8,954. 



Liabilities of Directors, . .... 
Numbers of shades owned by Directors, .... 
Loan on Stock of the Bank, (on 10 shares,) 
Greatest amount of Stock held by any one person or corporation, 
Highest Loan at any one time during the year, . 
Proportion of Loan payable out of Great Barrington, about 
" " on which Exchange is charged, about . 
Annual Expenses, about 



$11,200 00 

176 

$1,000 00 

12,500 00 

377,143 59 

Two-thirds. 

One-twelfth. 

$2,700 00 



Rates of Exchange. — On Boston and New York, nothing; Philadel- 
phia, J; Baltimore and Hartford, -\ ; Albany, Providence, Springfield, Lowell. 
J. Amount of charges for Exchange during the last year, about $3,400. 
10 



74 



BANK COMMISSIONERS' REPORT. 



[Oct. 



IIOUSATOMC BANK— STOCKBRIDGE. 

[June 28.] 



Capital, . 


1200,000 00 


Loan, 


$305,144 22 


Circulation, 


87,112 00 


Real Estate, 


2,250 00 


Deposits, . 
Bank Balances, 
Profits on hand, 


27,145 89 
9,070 52 
3,979 50 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other banks, . 


3,000 00 
431 75 






Bank Balances, . 


7,466 30 






Specie, . 
Immediate Resources, 


9,015 64 




$327,307 91 


$327,307 91 


Immediate Liabilities, 


$123,328 41 


$16,913 69 



Overdue or Suspended Paper, $7,558. Amount of loss, uncertain. 



Liabilities of Directors, $5,550 00 

Number of shares owned by Directors, 123 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 364 shares. 
Highest Loan at any one time during the year, .... $348,855 19 
Proportion of Loan payable out of Stockbridge, about . Two-thirds. 

" " on which Exchange is charged, . . Small. 
Annual Expenses, from $3,000 to 4,000. 



Rates of Exchange. — On Boston, Albany, and New York, nothing; 
Philadelphia and Baltimore,!; Hartford, to |-; Springfield, to \\ other 
places, cost of collection. Amount of charges for Exchange, during the last 
year, $1,800 to $2,000. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



75 



CAMBRIDGE MARKET BANK— CAMBRIDGE. 

[July 6.] 



Capital, . 


$150,000 00 


Loan, 


$219,243 31 


Circulation, 


79,116 00 


Real Estate, 


4,800 00 


Deposits, . 
Bank Balances, 
Profits on hand, 


30,118 20 
11,012 01 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


3,000 00 
7,401 43 






Bank Balances, 


27,809 34 






Specie, 

Immediate Resources, 


7,992 13 




$270,246 21 


$270,246 21 


Immediate Liabilities, 


$109,234 20 


$43,202 90 



Overdue or Suspended Paper, $2,033. Loss, uncertain. 



Liabilities of Directors, $37,060 00 

Number of shares owned by Directors, . . . . . 110 

Loan on Stock of the Bank, (on 132 shares,) .... $11,125 00 
Greatest amount of Stock held by any one person or corporation, 89 shares. 
Highest Loan at any one time during the year, .... $245,185 26 
Proportion of Loan payable out of Cambridge, about . . Two-thirds. 
" " on which Exchange is charged, less than One-eighth. 
Annual Expenses, about $2,000 00 



Rates of Exchange. — Vary with the time. On Boston, to \ ; New 
York, \ to 1 ; Philadelphia, 1 ; Providence, \ ; Portland, \ to | ; Lowell and 
Salem, \ to \. Amount of charges for Exchange during the last year, about 
$400. 



7H 



BANK COMMISSIONERS' REPORT. 



[Oct. 



MECHANICS' BANK— BOSTON. 

[July 8.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$250,000 00 

99,888 00 

150,004 34 

35,723 53 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, . . 

1 Immediate Resources, 


$401,885 59 
18,500 00 

4,395 91 
89,413 62 
21,420 75 




$535,615 87 


$535,615 87 


Immediate Liabilities, 


$249,892 34 


$115,230 28 



Overdue or Suspended Paper, $14,600. No loss apprehended.* 



Liabilities of Directors, $37,621 00 

Number of shares owned by Directors, . . . . . 164 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 159 shares. 
Highest Loan at any one time during the year, .... $441,687 15 
Proportion of Loan payable out of Boston, perhaps, . . One-fourth. 
" " on which Exchange is charged, . . Very small. 
Annual Expenses, about . $3,200 00 



Rates of Exchange. — On New York and Philadelphia, to \ ; Balti- 
more, \ to -| ; Mobile, 1 ; New Orleans, \ to 1 ; Cincinnati and St. Louis, 1 ; 
Chicago, 1 to 2 ; Albany, -*- ; Providence, Hartford, Portland, Lowell, New 
Bedford, \ to 1 ; Salem, \. Amount of charges for Exchange, for one year to 
April 1, 1859, $662.65. 

* The Commissioners are informed that §13,816 of this was taken up within one week after their 
visit, leaving only $784 overdue paper. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



77 



PROVINCETOWN BANK— PROVINCETOWN. 

[July 13.1 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$100,000 00 
74,107 00 
14,169 10 

8,399 96 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


$157,634 24 
3,000 00 

87 00 
23,495 68 
12,459 14 




$196,676 06 


$196,676 06 


Immediate Liabilities, 


$88,276 10 


$36,041 82 



Overdue or Suspended Paper, $2,700. Probable loss, $500. 



Liabilities of Directors, $18,582 00 

Number of shares owned by Directors, 52 

Loan on Stock of the Bank, (on 74 shares,) .... $4,477 00 
Greatest amount of Stock held by any one person or corporation, . 60 shares. 
Highest Loan at any one time during the year, .... $188,780 36 
Proportion of Loan payable out of Provincetown, . . One-eighth. 

" " on which Exchange is charged, . . One-thirtieth. 
Annual Expenses, about $1,800 00 



Rates of Exchange. — Vary with the time the paper has to run. On 
Boston, to \\ New York, to 1. Amount of charges for Exchange during 
the last year, $139. 



78 



BANK COMMISSIONERS' REPORT. 



[Oct. 



TRADESMAN'S BANK— CHELSEA. 

[July 15-1 



Capital, . 


$150,000 00 


Loan, 


$259,895 72 


Circulation, 
Deposits, . 
Bank Balances, 


89,047 00 
66,032 71 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


5,000 00 
7,(766 95 


Profits on hand, 


12,960 73 


Bank Balances, . 


37,999 52 






Specie, 

Immediate Resources, 


7,478 25 




$318,040 44 


$318,040 44 


Immediate Liabilities, 


$155,079 71 


$53,144 72 



Overdue or Suspended Paper, $3,200. Probable loss, not over $200. 



Liabilities of Directors, $41,141 00 

Number of shares owned by Directors, ..... 124 

Loan on Stock of the Bank, (on 45 shares,) .... $4,000 00 
Greatest amount of Stock held by any one person or corporation, 13.000 00 
Highest Loan at any one time during the year, . . . 268,454 85 

Proportion of Loan payable out of Chelsea, . . . Small. 



" on which Exchange is charged, . 



Small. 



Annual Expenses, $3,300 00 



Rates of Exchange. — On Boston, nothing; New York, Philadelphia, 
Baltimore, New Orleans, ^ to \ ; St. Louis, Cincinnati, Chicago, 1 to 1^ ; 
Albany, \ ; Providence, Hartford, Portland, Lowell, New Bedford, Salem, % 
to \. Amount of charges for Exchange during the last year, $500 to $800. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



79 



MALDEN BANK— MALDEN. 

[July 18.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 



Immediate Liabilities, 



$100,000 00 


81,749 00 


18,820 08 


4,232 19 


10,720 36 


$215,521 63 


$104,801 27 



Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank of Mutual Re- 
demption, 

Specie, 



Immediate Resources, 



$184,453 40 
5,602 64 

8,656 03 

5,000 00 
11,809 56 



$215,521 63 



$20,465 59 



Overdue or Suspended Paper, $6,030. Probable loss, $3,282. 



Liabilities of Directors, $16,617 00 

Number of shares owned by Directors, ..... 38 

Loan on Stock of the Bank, (on 13 shares,) .... $330 00 

Greatest amount of Stock held by any one person or corporation, 97 shares. 
Highest Loan at any one time during the year, .... $193,676 83 
Proportion of Loan payable out of Maiden, about . . Three-fifths. 

" " on which Exchange is charged, perhaps One-tenth. 
Annual Expenses, $1,500 00 



Rates of Exchange. — On New York and Philadelphia, \ ; Baltimore, \ ; 
Chicago and Buffalo, 1 ; Albany, Providence, Hartford, Portland, \. Amount 
of charges for Exchange the last year, perhaps $200. 



80 



BANK COMMISSIONERS' RKPOIIT. 



[Oct. 



PEOPLE'S BANK— ROXBUUY. 

[July 19.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits. on hand, 



Immediate Liabilities, 



$150,000 00 

84,005 00 

100,505 90 

15,023 72 



$349,534 62 



$184,510 90 



Loan, 

Real Estate, 

Cliccks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 



Immediate Resources, 



$272,428 41 
4,000 00 

5,889 58 
32,940 53 
34,270 10 



$349,534 62 



$73,106 21 



Overdue or Suspended Paper, $5,312. Probable loss, not over $1,250. 



Liabilities of Directors, $22,077 00 

Number of shares owned by Directors, 616 

Loan on Stock of the Bank, (on 74 shares,) .... $3,50000 

Greatest amount of Stock held by any one person or corporation, 221 shares. 
Highest Loan at any one time during the year, .... $299,573 00 
Proportion of Loan payable out of Roxbury, about . . One-half. 

" "on which Exchange is charged, not . One-thirtieth. 
Annual Expenses, about $2,500 00 



Rates of Exchange. — On Boston, nothing ; New York, to \ ; Phila- 
delphia and Baltimore, \ ; New Orleans, 1 ; Albany, Providence, Hartford, 
Portland, New Bedford, Salem, \. Amount of charges for Exchange during 
the last year, less than $200. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



81 



LAIGHTON BANK— LYNN. 

[July 20.] 



Capital, 


$200,000 00 


Loan, 


$328,572 90 


Circulation, 


67,676 00 


Real Estate, 


5,479 67 


Deposits, . 
Bank Balances, 
Profits on hand, 


70,226 94 

9,592 69 

24,464 49 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


5,000 00 
5,070 79 






! Bank Balances, . 


15,214 22 






Specie, 

Immediate Resources, 


12,622 54 




$371,960 12 


$371,960 12 


Immediate Liabilities, 


$147,495 63 


$32,907 55 



Overdue or Suspended Paper, $280. Probable loss, nothing. 



Liabilities of Directors, $106,270 00 

Numbers of shares owned by Directors, ..... 273 

Loan on Stock of the Bank, (on 19 shares,) .... $1,650 00 
Greatest amount of Stock held by any one person or corporation, . 192 

Highest Loan at any one time during the year, .... $328,731 89 
Proportion of Loan payable out of Lynn, more than . . Two-thirds. 

" " on which Exchange is charged, . . All the above. 

Annual Expenses, about ........ $3,300 00 



Ratp:s of Exchange. — Vary with the time. On Boston, -|- to \ ; New 
York, \ to I ; Philadelphia and Baltimore, \ ; Buffalo, 1 to \\ ; Albany, 1 ; 
Providence, Hartford, Portland, Lowell, New Bedford, Nantucket, \ ; Salem, 
\ to \. Amount of charges for Exchange during the last year, $2,231.58. 
11 



82 



BANK COMMISSIONERS' REPORT. 



[Oct. 



ROCKLAND BANK— ROXBURY. 

[July 25.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$150,000 00 
72,852 00 
95,787 77 

10,957 80 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


$287,985 80 

3,916 05 
18,516 54 
19,179 18 




$329,597 57 


$329,597 57 


Immediate Liabilities, 


$168,639 77 


$41,611 77 



Overdue or Suspended Paper, $3,000. No loss anticipated. 



Liabilities of Directors, $18,521 00 

Number of shares owned by Directors, 271 

Loan on Stock of the Bank, (on 13 shares,) .... $700 00 
Greatest amount of Stock held by any one person or corporation, 181 shares. 
Highest Loan at any one time during the year, .... $301,701 02 
Proportion of Loan payable out of Roxbury, . . . One-half. 

" " on which Exchange is charged, . . Very small. 
Annual Expenses, about $2,900 00 



Rates of Exchange. — On Philadelphia and Baltimore, \. Amount of 
charges for Exchange, during the last year, about $250. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



83 



QUINSIGAMOND BANK— WORCESTER. 

[July 27.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


3250,000 00 

109,962 00 

91,72-1 13 

333 71 

25,209 98 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


$108,069 93 

6,299 38 
33,691 91 
29,168 57 




$477,229 82 


$477,229 82 


Immediate Liabilities, 


$202,019 81 


§69,159 89 



Overdue or Suspended Paper, $16,025. Probable loss, not over $1,000. 



Liabilities of Directors, $72,741 00 

Number of shares owned by Directors, 175 

Loan on Stock of the Bank, (on 27 shares,) .... $2,000 00 
Greatest amount of Stock held by any one person or corporation, . 298 shares. 
Highest Loan at any one time during the year, .... $141,029 26 
Proportion of Loan payable out of Worcester, . . . Nearly half. 
" " on which Exchange is charged, . . Nearly half. 

Annual Expenses, about . • . . . . . . . $3,500 00 



Rates of Exchange. — Vary with the time. On Boston, to £; New 
York, to 1. Philadelphia, | to 1 ; Baltimore, 1 ; Cincinnati and St. Louis, 
2 to 2\ ; Chicago, 2 to 3 ; Albany, Providence, Springfield, Hartford, Port- 
land, Lowell, \. Amount of charges for Exchange during the last year, 
about $1,500. 



84 



BANK COMMISSIONERS' REPORT. 



[Oct. 



MATTAPAN BANK— DORCHESTER. 

[July 29.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$100,000 00 

34,928 00 

31,120 12 

1,168 23 

14,981 82 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


$163,188 08 
6,000 00 

4,562 13 
1,292 01 
7,155 95 




$182,198 17 


$182,198 17 


Immediate Liabilities, 


$67,216 35 


$13,010 09 



Overdue or Suspended Paper, $3,226. No loss anticipated. 



Liabilities of Directors, $19,091 00 

Number of shares owned by Directors, ... . . . 130 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 100 shares. 
Highest Loan at any one time during the year, .... $175,666 27 
Proportion of Loan payable out of Dorchester, about . . One-half. 
" " on which Exchange is charged, about . One-half. 
Annual Expenses, "... $1,850 00 



Rates of Exchange. — Vary with the time. On Boston, i to \ ; New 
York and Philadelphia, \ ; St. Louis, 1 ; Albany, \ ; Hartford, Portland, 
Lowell, New Bedford, Salem, &c, about \. No account is kept of Exchange. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



85 



BLUE HILL BANK— DORCHESTER. 

[August 5.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$150,000 00 
82,613 00 
76,588 25 

9,949 18 


Loan, 

Real Estate, 

j Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$270,435 02 
6,000 00 

7,800 66 
14,640 74 
20,274 01 




1319,150 43 


$319,150 43 


Immediate Liabilities, 


$159,201 25 


$42,715 41 



Overdue or Suspended Paper, $9,745. Probable loss, about $3,800. 



Liabilities of Directors, $18,164 00 

Number of shares owned by Directors, 162 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by anyone person or corporation, 111 shares. 
Highest Loan at any one time during the year, .... $296,113 57 
Proportion of Loan payable out of Dorchester, . . . Three-fourths. 

" " on which Exchange is charged, about . One-fourth. 
Annual Expenses, about $2,200 00 



Rates of Exchange. — On Boston, to \ ; New York, -*- ; Philadelphia 
and Baltimore, J to f ; New Orleans, 1J- to 2; Cincinnati and St. Louis, 1 to 
1\ ; Chicago, 2 to 2J ; Albany, 1 ; Providence, Hartford, Portland, Springfield, 
Lowell, Salem, New Bedford, \. Amount of charges for Exchange the last 
year, about $1,500. 



86 



BANK COMMISSIONERS' REPORT. 



[Oct. 



BASS RIVER BANK— BEVERLY. 

[August 8.] 



Capital, . 


$100,000 00 


i T 

; Loan, 


$149,036 03 


Circulation, 


GG,008 00 


i Real Estate, 


5,227 48 


Deposits, . 
Bank Balances, 


12,380 25 
3 62 


Checks and Bills of 
other Banks, . 


8,009 01 


Profits on hand, 


3,494 01 


Bank Balances, . 
Specie, 

Immediate Resources, 


10,294 00 
3,319 36 




$181,885 88 


$181,885 88 


Immediate Liabilities, 


$78,391 87 


$27,622 37 



Overdue or Suspended Paper, $29,415.47. Probable loss, as estimated by the 

Cashier, not over $2,000. 



Liabilities of Directors, $34,859 00 

Number of shares owned by Directors, 117 

Loan on Stock of the Bank, (on 166 shares,) .... $12,165 81 
Greatest amount of Stock held by any one person or corporation, 41 shares. 
Highest Loan at any one time during the year, .... $172,948 71 
Proportion of Loan payable out of Beverly, fully . . Two-thirds. 
" " on which Exchange is charged, about . Two-thirds. 
Annual Expenses, about $1,600 00 



Rates of Exchange. — On Boston, J to \ ; New York, 1 ; Philadelphia, 
1 to 11; Baltimore, 1 to 11; New Orleans, 2 ; Cincinnati and Chicago, 1^ : 
St. Louis, 1 to \\ ; Buffalo, 11 to 2 ; Albany, 1 ; Providence, Hartford, Port- 
land, Lowell, New Bedford, 1 ; Salem, 1. Amount of charges for Exchange, 
during the last year, about $1,800. 

Note. — The preceding is the statement of the condition of the Bank, as pre- 
sented to the Commissioners by the Cashier ; its actual condition, as found by 
them, is referred to in another place. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



87 



VILLAGE BANK— DAN VERS. 

[August 9.] 



Capital, . 


6200,000 00 


Loan, 


6327,751 24 


Circulation, 


83,542 00 


Real Estate, 


17,782 69 


Deposits, . 
Bank Balances, 
Profits on hand, 


47,990 54 
16,190 36 
24,892 84 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


8,000 00 
2,890 70 






Bank Balances, . 


9,864 56 






Specie, 

Immediate Resources, 


11,326 55 




§377,615 74 


6377,615 74 


Immediate Liabilities, 


8152,722 90 


124,081 81 



Overdue or Suspended Paper, 62,144. No loss anticipated. 



Liabilities of Directors, 691,766 00 

Number of shares owned by Directors, 61 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 155 shares. 
Highest Loan at any one time during the year, . . . 6354,087 00 
Proportion of Loan payable out of Danvers, . . . 70 to 75 per cent. 
" " on which Exchange is charged, . . 30 to 50 per cent. 
Annual Expenses, 62,800 to 3,000 



Rates of Exchange. — On Boston, usually nothing ; New York, Phila- 
delphia and Baltimore, to \ ; ; Cincinnati, St. Louis and Chicago, 1 to 1^ ; 
Buffalo and Pittsburg, 1 ; Providence, Hartford, Springfield, New Bedford, \ ; 
Salem, \. Amount of charges for Exchange during the last year, 61 ,500 to 
$2,500. 



88 



BANK COMMISSIONERS' REPORT. 



[Oct. 



NEWTON BANK— NEWTON. 

[August 11.] 



Capital, . 


,$150,000 00 


Loan, 


$274,393 51 


Circulation, 


79,012 00 


Real Estate, 


4,813 67 


Deposits, . 
Bank Balances, 
Profits on hand, 


41,563 23 
6,344 22 

21,782 59 ! 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other banks, . 


7,500 00 
1,662 00 






Bank Balances, . 


266 94 






Specie, 

Immediate Resources, 


13,095 92 




8301,732 04 ' 

i 


$301,732 04 


Immediate Liabilities, 


$126,949 45 


$15,024 86 



Overdue or Suspended Paper, $18,139.* Probable loss, not over 25 per cent. 



Liabilities of Directors, $3,484 00 

Number of shares owned by Directors, 185 

Loan on Stock of the Bank, (on 25 shares,) .... $2,300 00 
Greatest amount of Stock held by any one person or corporation, 99 shares. 
Highest Loan at any one time during the year, .... $300,330 22 
Proportion of Loan payable out of Newton, . . . Probably half. 
" " on which Exchange is charged, . . Third to half. 
Annual Expenses, about $3,200 00 



Rates of Exchange. — Vary with the time. On Boston, to \; New 
York, Philadelphia and Baltimore, to 1 ; Charleston, Mobile and New 
Orleans, 1 to \\ ; Cincinnati, St. Louis and Chicago, 1 to 2 ; Albany, \ to 1 ; 
Providence, Hartford, Portland, Lowell, Salem, \ to 1. Amount of charges 
for Exchange, during the last year, $4,000 to $4,500. 

* The President of the Bank informs us that "a considerable percentage of this ha3 been 
liquidated " since the date of examination. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



89 



LEE BANK— LEE. 

[August 17.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$300,000 00 

112,947 00 

14,200 62 

738 94 

16,606 32 


1 Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$411,313 84 
10,000 00 

28 00 

16,692 34 

6,458 70 




$444,492 88 


$444,492 88 


Immediate Liabilities, 


$127,886 56 


$23,179 04 



Overdue or Suspended Paper, $17,484. Probable loss, small, if any. 



Liabilities of Directors, $57,588 00 

Number of shares owned by Directors, 133 

Loan on Stock of the Bank, (on 55 shares,) .... $3,470 00 
Greatest amount of Stock held by any one person or corporation, 119 shares. 
Highest Loan at any one time during the year, .... $448,514 64 
Proportion of Loan payable out of Lee, . . . " The larger portion." 

" " on which Exchange is charged, about . . Half. 
Annual Expenses, about $3,500 00 



Rates of Exchange. — Vary with the time. On Philadelphia and Balti- 
more, \ to \ ; Charleston, New Orleans, Cincinnati, St. Louis, Chicago, 1 to 2 ; 
Buffalo, \ ; Providence and Hartford,^; other places, what it costs. Amount 
of charges for Exchange during the last year, $4,000. 
12 



90 



BANK COMMISSIONERS' REPORT. 



[Oct. 



HAMPDEN BANK— WESTFIELD. 

[August 18.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$150,000 00 

112,432 00 

31,375 37 

24,736 00 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$280,911 04 
8,140 74 

1,665 65 

20,347 02 

7,479 58 




$318,544 03 


8318,544 03 


Immediate Liabilities, 


•1143,807 37 

i 


$29,492 25 



Overdue or Suspended Paper, $293. Probable loss, one-half. 



Liabilities of Directors, $21,760 00 

Number of shares owned by Directors, . . . . . 126 

Loan on Stock of the Bank, (on 9 shares,) .... $1,035 00 

Greatest amount of Stock held by any one person or corporation, 7,000 00 
Highest Loan at any one time during the year, .... 294,805 27 
Proportion of Loan payable out of Westfield, about . . One-half. 

** " on which Exchange is charged, . . From ^ to £. 
Annual Expenses, $2,350 00 



Rates of Exchange. — On Boston and New York, no charge ; Philadel- 
phia and Baltimore, \ ; Mobile, New Orleans, Louisville, St. Louis, 1-1- ; Cin- 
cinnati, 1 ; Chicago, 3 ; Portland, i ; Albany, Providence, Hartford, Spring- 
field, \. Amount of charges for Exchange during the last year, about $600. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



91 



WESTFIELD BANK— WESTFIELD. 

[August 19.] 



Capital, . 


$150,000 00 


Loan, 


$281,825 27 


Circulation, 


95,996 00 ! 


Real Estate, 


5,991 54 


Deposits, . 
Bank Balances, 
Profits on hand, 


60,275 23 | 
10 00 | 
7,023 09 


Bank of Mutual Re- 
demption, 

Checks and Bills of 
other Banks, . 


5,000 00 
2,342 75 


• 




Bank Balances, 


11,831 33 






Specie, 

Immediate Resources, 


6,313 43 




1313,304 32 


$313,304 32 


Immediate Liabilities, 


$156,281 23 


$20,487 51 



Overdue or Suspended Paper, $20,374.65. Estimated loss, $7,766. 



Liabilities of Directors, $27,507 00 

Number of shares owned by Directors, . . • . . 109 

Loan on Stock of the Bank, (on 32 shares,) .... $3,150 00 
Greatest amount of Stock held by any one person or corporation, 63 shares. 
Highest Loan at any one time during the year, .... $298,271 99 
Proportion of Loan payable out of Westfield, Rather less than two-thirds. 

" " on which Exchange is charged, about . One-third. 
Annual Expenses, about $2,500 00 



Rates of Exchange. — On Boston and Ncav York, if any charge, from 
£ to \ ; Philadelphia and Baltimore, J to \ : Mobile, 1 to \\ ; Louisville, Cin- 
cinnati, St. Louis, Chicago, from 1 to 3 ; Buffalo and New York State west of 
Albany, -f ; Albany, \ ; Hartford, Providence, and New England generally, 
\ to i ; Portland, \. No separate account is kept of Exchange. 



92 



BANK COMMISSIONERS' REPORT. 



[Oct. 



BRISTOL COUNTY BANK— TAUNTON. 

[August 29.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 



Immediate Liabilities, 



$350,000 00 

157,123 00 

90,377 33 

2,599 61 

00,099 67 



$660,199 61 



$250,099 94 



Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 



Immediate Resources, 



$605,438 82 
10,000 00 

3,149 48 
27,461 44 
14,149 87 



$660,199 61 



$44,760 79 



Overdue or Suspended Paper, $30,459.80. Probable loss, about $6,000. 



Liabilities of Directors, $12,025 00 

Number of shares owned by Directors, 319 

Loan on Stock of the Bank, (on 5 shares,) .... $500 00 

Greatest amount of Stock held by any one person or corporation, 138 shares. 
Highest Loan at any one time during the year, .... $668,107 39 
Proportion of Loan payable out of Taunton, . . . Three-fourths. 

" " on which Exchange is charged, about . Two-thirds. 
Annual Expenses, about $3,500 00 



Rates of Exchange. — Rates vary. On Boston, to \ ; New York. 
Philadelphia and Baltimore, -| to 1 ; Providence, to -|- ; Portland, 1 ; Hart- 
ford, Springfield, Lowell, New Bedford, 1. Amount of charges for Exchange 
during the last year, about $5,000. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



93 



PACIFIC BANK— NANTUCKET. 

[August 30.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$200,000 00 

94,940 00 

136,369 61 

50,703 63 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$359,990 98 
10,000 00 

4,161 33 
92,083 10 
15,777 83 




$482,013 24 


$482,013 24 


Immediate Liabilities, 


$231,309 61 


$112,022 26 



Overdue or Suspended Paper, $12,270. Probable loss, about $1,500. 



Liabilities of Directors, $3,145 00 

Number of shares owned by Directors, 297 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 278 shares. 
Highest Loan at any one time during the year, .... $102,457 91 
Proportion of Loan payable out of Nantucket, about . . Six-sevenths. 
" " on which Exchange is charged,, about One-seventh. 
Annual Expenses, about $2,500 00 



Rates of Exchange. — On paper having less than 00 days to run, usually 
no exchange is charged ; for longer paper, on Boston, usually nothing ; New 
York and Philadelphia, \ , Baltimore, f ; Providence, \ ; New Bedford, 0. 
Amount of charges for Exchange during the last year, $575.42. 



94 



PUBLIC DOCUMENT— No. 6. 



[Oct. 



WALTIIAM BANK— WALTIIAM. 

[September 2.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on band, 



Immediate Liabilities, 



$200,000 00 

104,807 00 

34,493 90 

1,99G 91 

9,084 97 



$350,442 87 



$141,357 90 



Loan, 

Ileal Estate, 

Cbecks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 



Immediate Resources, 



$327,048 47 
5,500 00 

2,476 49 

4,000 00 

11,417 91 



$350,442 87 



$17,894 40 



Overdue or Suspended Paper, $42,270.* Probable loss, not over $7,000. 



Liabilities of Directors, $21,025 00 

Number of shares owned by Directors, 64 

Loan on Stock of the Bank, (on 23 shares,) .... $1,350 00 
Greatest amount of Stock held by any one person or corporation, 78 shares. 
Highest Loan at any one time during the year, .... $325,958 64 
Proportion of Loan payable out of Waltham, about . One-third. 

" " on which Exchange is charged, . . Very small. 
Annual Expenses, $2,300 00 



Kates of Exchange. — Vary with the time the paper has to run. Very 
little Exchange has been charged on any paper during the last year, the whole 
amount being about $100. 



* A considerable amount of this had been paid at the time of examination. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



95 



ROCKPORT BANK— ROCKPORT. 

[September 5.] 



Capital, . 


§150,000 00 


Loan, 


§237,264 54 


Circulation, 
Deposits, . 
Bank Balances, 


73,877 00 
35,722 05 


Bank of Mutual Re- 
demption, 
• 

Checks and Bills of 
other Banks, . 


3,000 00 
9,276 63 


Profits on hand, 


11,466 42 ; 


Bank Balances, . 


15,118 61 




. 


Specie, 

Immediate Resources, 


6,405 69 




$271,065 47 


§271,065 47 


Immediate Liabilities, 


1109,599 05 


§30,800 93 



Overdue or Suspended Paper, none on which any loss is apprehended. 



Liabilities of Directors, $47,522 00 

% Number of shares owned by Directors, ..... 154 

Loan on Stock of the Bank, §10,000 00 

Greatest amount of Stock held by any one person or corporation, 10,000 00 
Highest Loan at any one time during the year, .... 244,536 71 
Proportion of Loan payable out of Rockport, about . . One-third. 
" " on which Exchange is charged, about . One-fifth. 
Annual Expenses, about §1,800 00 



Rates of Exchange. — On Boston \\ New York, J; Providence, Port- 
land, Lowell, New Bedford, |- ; Salem, \. Amount of charges for Exchange 
during the last year, about §800. 



96 



BANK COMMISSIONERS' REPORT. 



[Oct. 



TAUNTON BANK— TAUNTON. 

[September 7.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$100,000 00 
184,720 00 
156,534 GO 

4,779 63 
75,986 09 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$741,605 17 
10,000 00 

9,855 47 
42,769 73 
17,795 95 




$822,026 32 


$822,026 32 


Immediate Liabilities, 


$316,040 23 


$70,421 15 



Overdue or Suspended Paper, $10,622. Probable loss, $4,000. 



Liabilities of Directors, $14,500 00 

Number of shares owned by Directors, 150 

Loan on Stock of the Bank, (on 17 shares,) .... $1,000 00 
Greatest amount of Stock held by any one person or corporation, 160 shares. 
Highest Loan at any one time during the year, .... $768,496 10 
Proportion of Loan payable out of Taunton, about . . Two-thirds. 

" " on which Exchange is charged, about . One-half. 
Annual Expenses, about . $5,200 00 



Rates of Exchange. — Vary with the time. On Boston, J;. New York, 
Philadelphia and Baltimore, J to f ; Buffalo, 1 J ; Albany, Providence, Hart- 
ford, Portland, Lowell, New Bedford, Salem, \ to f . Amount of charges for 
Exchange during the last year not known, interest and exchange accounts 
being kept as one. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



97 



MACHINISTS' BANK— TAUNTON. 

[September 8.] 



Capital, 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 



Immediate Liabilities, $198,792 29 



$200,000 00 

116,731 00 

81,061 29 

1,000 00 

57,814 70 



$456,606 99 



Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . . 

Bank Balances, . 

Specie, 



Immediate Resources, 



$395,628 24 

12,214 44 

41,023 12 

7,741 19 



$456,606 99 



$60,978 75 



Overdue or Suspended Paper, $96,848.73. Probable loss, $67,826.45. 



Liabilities of Directors, $21,317 00 

Numbers of shares owned by Directors, ... . . . 369 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, . 262 shares. 
Highest Loan at any one time during the year, .... - 

Proportion of Loan payable out of Taunton, . . . f to f . 

" " on which Exchange is charged, . . One-half. 
Annual Expenses, from $3,000 to $3,500 



Rates of Exchange. — Vary with the time. On Boston, J to f- ; New 

York, \ to 1 ; Philadelphia and Baltimore, f to 1 ; Buffalo, 1 ; Albany, f ; 

Providence, \ to f ; Hartford, Portland, Lowell, £ to 1 ; New Bedford, Salem, 

\ to J. Amount of charges for Exchange during the last year, about $2,000. 

13 



98 



BANK COMMISSIONERS' REPORT. 



[Oct. 



MERRIMACK BANK— HAVERHILL. 

[September 20.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 



$180,000 00 
45,063 00 
27,082 47 
37,742 G8 
34,534 34 



$324,422 49 



Immediate Liabilities, $109,888 15 



Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie,. 



Immediate Resources, 



$308,770 70 

2,000 00 

6,988 05 
3,150 63 
5,513 11 



$324,422 49 



$15,651 79 



Overdue or Suspended Paper, none. 



Liabilities of Directors, $14,715 00 

Number of shares owned by Directors, ..... 99 

Loan on Stock of the Bank, None. 

Greatest amount of Stock held by any one person or corporation, 198 shares. 
Highest Loan at any one time during the year, .... $339,124 22 
Proportion of Loan payable out of Haverhill, about . . Three-fourths. 
" " on which Exchange is charged, about . Three-fourths. 
Annual Expenses, about $2,500 00 



Rates of Exchange. — Vary with the time the paper has to run. On 
Boston, New York, Philadelphia and Baltimore, \ to 1. Amount of charges 
for Exchange during the last year not known, as no separate account is kept 
of Exchange. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



99 



BLACKSTONE BANK— BOSTON. 

[September 21.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$750,000 00 

259,609 00 

462,939 43 

20,005 60 

74,960 48 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, . 

Specie, 

Immediate Resources, 


$1,356,567 14 

84,186 86 

24,015 96 

102,744 55 




$1,567,514 51 


$1,567,514 51 


Immediate Liabilities, 


$742,554 03 


$210,947 37 



Overdue or Suspended Paper, $17,247. Estimated loss, $6,885. 



Liabilities of Directors, $112,163 00 

Number of shares owned by Directors, 320 

Loan on Stock of the Bank, (on 336 shares,) .... $25,900 00 
Greatest amount of Stock held by any one person or corporation, 325 shares. 
Highest Loan at any one time during the year, . . . $1,403,408 97 
Proportion of Loan payable out of Boston, about . . 22 per cent. 
" " on which Exchange is charged, about . 22 per cent. 
Annual Expenses, about $12,000 00 



Rates of Exchange. — Vary with the time. On New York, J to J ; 
Philadelphia, J to {; Baltimore,-^ to f; Charleston, Mobile, 1 to 1£ ; New 
Orleans, Cincinnati, 1 to 1 J ; St. Louis, 1 to 2 ; Chicago, \\ to 2; Albany, 
Providence, Hartford, Portland, Lowell, NeAv Bedford, Salem, J. Amount 
of charges for Exchange during the last year, about $3,000. 



100 



BANK COMMISSIONERS' REPORT. 



[Oct. 



FREEMAN'S BANK— BOSTON. 

[September 26.] 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits on hand, 


$400,000 00 

195,404 00 

229,025 07 

31,359 62 

77,730 90 


Loan, 

Real Estate, 

Checks and Bills of 
other Banks, . 

Bank Balances, 

Specie, 

Immediate Resources, 


$791,879 72 

42,996 92 
23,828 01 
71,815 00 




$933,519 65 


$933,519 65 


Immediate Liabilities, 


$455,788 69 


$138,639 93 



Overdue or Suspended Paper, $5,200. No loss anticipated. 



Liabilities of Directors, $31,966 00 

Number of shares owned by Directors, 428 

Loan on Stock of the Bank, (on 71 shares) .... $5,000 00 
Greatest amount of Stock held by any one person or corporation, 225 shares. 
Highest Loan at any one time during the year, .... $799,965 72 
Proportion of Loan payable out of Boston, perhaps . . One-fifth. 
" " on which Exchange is charged, perhaps One-fifth. 
Annual Expenses, about . $5,500 00 



Rates of Exchange. — On New York, to |; Philadelphia, and 
Baltimore, ^ to \ ; Charleston, \ to 1 ; New Orleans, \ to 1 ; St. Louis, 1 ; 
Chicago, 1^ to 2 ; Albany, \ ; Providence, \ to \ ; Hartford, Portland, New 
Bedford, \ to \\ Lowell, \\ Salem, to \. Amount of charges for 
Exchange during the last year, $883.59. 



1859.] PUBLIC DOCUMENT— No. 6. 101 



In addition to the statements above given, the undersigned, 
in obedience to the requirements of the statute, proceed to 
offer such further statements and suggestions of a more general 
nature, as have occurred to them in the progress of their labors 
during the year. 

The following changes have occurred in the Board : On the 
20th of April, Hon. S. H. Walley resigned his place. The 
vacancy was filled by the appointment of Mr. Forbes, who 
entered upon his duties July 4. 

The experience of the year now closed has served to add 
strength to the convictions heretofore expressed by us, that, 
taken as a whole, the banking institutions of the Commonwealth 
give satisfactory evidence of soundness and ability to meet the 
constantly increasing demands of the community for a safe and 
reliable currency. For the most part> a laudable desire is 
manifested by officers and directors so to conform, in the manage- 
ment of the institutions under their care, to the requirements 
of the banking laws, and to sound principles, as to deserve that 
confidence on the part of the public which alone can insure 
success. 

This is the general rule, and so few are the exceptions, that 
but little is left for general remark in the way of criticism. 

Occasionally, however, we have noticed violations of law, or 
departures from sound principles of banking, which we have 
not failed to mark and correct, wherever found. These have 
had their origin, sometimes, in ignorance of the statutes, often 
in inadvertence or in sheer indolence; but, more frequently, in 
a desire to do a larger business than the resources of the bank 
allowed, or than the wants of the community where it was 
located required. And of some of these most frequently 
occurring, we propose to speak. 

We have had occasion to remark upon the failure of the 
proper officers to keep their books so written up as to be able 
to show the state of the bank, from the books, at a moment's 
warning. In some instances our examinations have been 
greatly protracted for this reason. This results sometimes 
from negligence on the part of the officer, and is then a matter 
of reprehension, but not unfrequently it is the result of over- 
working him, and is chiefly to be found in those banks where 



102 BANK COMMISSIONERS' REPORT. [Oct. 

the cashier is expected to act as teller and hoo-kkeeper, and also 
as general manager. It seems to us of the first importance 
that the books of the bank be so kept, as to show at a glance 
its precise condition at the opening of every day's business. 
And to secure this end, without the liability to confusion and 
mistakes, there should be no lack of well trained assistants. 
That is a poor policy which seeks to save a few dollars in the 
way of salary; by stinting the force essential to the proper con- 
ducting of institutions so important, or which doles out to those 
actually employed, a pittance so small as to create the ever- 
present consciousness, on their part, of performing unrequited 
labors. Not seldom have we been surprised at the scanty 
salaries paid to valuable officers, who, for a long series of years, 
have performed an amount of responsible labor little under- 
stood by the uninitiated. Indeed, in every sphere, that business 
succeeds best in the long run, where the labor employed receives 
a fair and honorable reward. Especially is this true whenever 
the success depends, as in the case before us, not more on the 
ability than on the strict integrity and the hearty and tireless 
devotion to their work, of the agents employed. We would 
therefore respectfully urge upon those who may favor these 
pages with a perusal, the importance — first, of providing an 
ample and well paid force for the management of the banks 
under their charge, and then of holding their officers to a strict 
accountability for the prompt and full daily discharge of every 
duty. 

And in this connection we deem it our duty to speak of the 
want of care and attention to their duties, on the part of direct- 
ors themselves, which we have not unfrequently noticed. This 
has generally, but not always, happened in the more sparsely 
settled communities. Residing often at some distance from the 
bank, it is sometimes the custom for the directors to devolve 
the power of making discounts upon the cashier, or upon that 
officer with the advice of the president or of some one of the 
directors — the whole board holding only monthly or quarterly 
meetings. It seems to us that such a practice is at variance 
alike with sound principles and with the plain intent of the 
Statute. The choice of the board is determined not only by 
the confidence reposed in the integrity, business habits, and 
knowledge of banking which the persons composing it may pos- 



1859.] PUBLIC DOCUMENT— No. 6. 103 

sess, but also in their knowledge of the wants and pecuniary 
standing of those who reside in the same neighborhood, or are 
engaged in the same calling with themselves. When a bank is 
aided by the combined skill and efforts of various persons so 
situated, it cannot fail of doing business with better prospects 
of permanent success than when it falls into the hands of a 
single individual, or of a small clique of persons, however 
capable. 

Hence the wisdom of that provision of law, which limits the 
number below which the board may not fall. And we would 
remark in passing, that in our judgment the increase of that 
number from five to seven at least, would be a wise and salutary 
improvement. 

It seems to us that a board of directors — itself a delegated 
body — cannot allow its work to be performed by delegation, 
without a manifest dereliction of duty. And no man should 
accept the office who is not prepared to discharge the whole 
duty which such acceptance involves. 

In this connection we venture furthermore to allude again, 
as has been often done in previous reports, to the indifference 
and neglect manifested by the stockholders themselves, with 
respect to the condition and character of the institutions which 
have been chartered in answer to their petitions, and for whose 
character they are, in the last resort, responsible. 

Not to mention other occasions provided by law, the annual 
meeting furnishes to them an appropriate opportunity to make 
all needful investigations and reforms. Then all power and 
trust passes from the directors into their hands, and the respon- 
sibility rests with them to prescribe the future course of the 
bank. Yet it is notorious that, in very many, if not a majority 
of instances, the number of stockholders present at these meet- 
ings scarcely exceeds that of the directors themselves. Fre- 
quently, indeed, a quorum is only obtained by hunting for men 
in the streets. So universal has this fact become, that the 
presence of any considerable number of stockholders at an 
annual meeting, would not fail of being regarded by the direc- 
tors as an extraordinary occurrence, indicative of serious dissat- 
isfaction and alarm. 

It thus has come to pass that the directors, for the most part, 
elect themselves, and also determine the limits of their own 



104 BANK COMMISSIONERS' REPORT. [Oct. 

liabilities to the bank — a circumstance which furnishes no slight 
ground of argument in favor of making the statute limit an 
inflexible one. 

We are happy to be able to add, however, that in some cases 
it is the custom for the stockholders, by a committee chosen 
from their own number, to make a thorough investigation into 
the doings of the directors and the condition of the bank, pre- 
vious to each annual meeting. Let this good custom become 
universal, and let the meetings be fully attended, and we cannot 
doubt that the effect would be highly salutary. 

We see no reason to change the opinion so often expressed 
in former Reports, respecting the use of memorandum checks as 
a part of the cash items in the bank tills. Whether they are 
received for the accommodation of some favorite customer, or 
whether they are given by a bank officer or agent as a voucher 
for bills taken for circulation, in either case the practice is a 
bad one. We are happy to say that the past year's observation 
confirms the belief expressed in our last Report, that the practice 
is falling into disuse. 

Believing that this, as well as numerous other practices to 
which we have taken exception, have their origin in undue and 
unwise efforts to extend the circulation of the bank, and also 
believing that these efforts result from an exaggerated estimate 
of the value of the circulation as a source of income, we venture 
to call attention to it more particularly. 

It is doubtless true that the regular legitimate circulation of 
any bank is a valuable source of profit. The principle and its 
operation are simple and obvious. A customer gives to the 
bank his written promise to pay a given sum at a specified 
time, and receives in exchange its notes, or promises to pay, 
without interest, on demand. These notes, bearing the stamp 
of a chartered institution, being convertible into coin on demand, 
and divided into sums to suit his convenience, the customer 
uses as cash in his daily transactions ; and for these advantages 
he pays interest on his own note in advance. This transaction 
is a simple exchange of credits — of promises to pay ; and the 
profit accruing from it to the bank will be proportionate to the 
time the notes thus issued circulate without redemption. And, 
in general, the profits of a bank will be affected by the average 
amount and length of time of its legitimate circulation. We 



1859.] PUBLIC DOCUMENT— No. 6. 105 

say legitimate circulation, and by it we mean that which results 
from the regular business of the bank, in its various depart- 
ments, at its own counter, and with its own regular customers, 
and not that which is the product of the numerous adroit 
expedients so often resorted to, in defiance not only of sound 
principles of banking, but of the clear intent of the statutes. 

But the issuing of notes is not the only nor the most impor- 
tant branch of the business of banking. United with it, under 
our system, is the entirely distinct in its nature, and more 
important department of loans and discounts. And it is obvious 
that a due estimate of the nature and functions of each, and of 
their relative importance, is essential to a successful administra- 
tion of the system. How far efforts may be made to extend 
either branch, and still a just balance of the two be preserved, 
and the interests of the bank advanced, must be determined by a 
wise regard to the general tendency and course of business and 
to the particular relations and circumstances of each institu- 
tution. 

One feature, especially, in the present course of trade and 
business, is too important to be overlooked. We refer to the 
change which is produced in the mode, of giving and using 
bank credits, by the increasing facilities for rapid communica- 
tion between distant sections of the country, and the accumula- 
tion of business in a few commercial centres. Now the proceeds 
of loans and discounts pass to the credit of the borrower on 
the books of the bank ; the check or draft takes the place of 
bank notes in all important transactions, and the circulation, 
both in country and city, is gradually contracting to the wants 
of retail and daily hand to hand transactions only. 

It is from the want of a due consideration of facts like these, 
that not a few of our banks, as it has seemed to us, have been 
led into mistake and suffered inconvenience and loss. An 
undue estimate has been placed upon the circulation ; and other 
and safer business has been made to bend to this. Extraordi- 
nary, if not illegal expedients are resorted to to enlarge it. 
Loans are granted with the pledge of the borrower to aid in 
extending it, and often to foreign parties of doubtful credit, to 
the exclusion of the regular customer who is fairly entitled to 

the accommodation. Every day's observation has served to 
u 



106 BANK COMMISSIONERS' REPORT. [Oct. 

confirm our opinion that all expedients to force the circulation 
of any bank above the wants of its regular customers and of 
the community in which it is situated, are alike useless and 
unwise ; and in leaving this topic, we would respectfully suggest 
to any bank officer or director, who is accustomed to load his 
carpet bag with the notes of his bank, and, leaving his " charge 
to circulation " as a voucher, to wend his daily way to State 
Street, there to conduct the business of the bank with brokers 
and sharpers, that there is a safer and better, as well as a more 
respectable way ; that the same amount of time and effort 
expended at home, in extending the circle of customers, in 
judiciously aiding the various branches of neighborhood busi- 
ness, and thus creating a circulation which will be safe and 
reliable, will hardly fail to result in larger dividends, greater 
reserved funds, and last but not least, a higher position of his 
bank in the just confidence and esteem of the community. 

If it be said that the local business is not, and cannot be 
made large enough to employ the resources of the bank, the 
ready and natural reply is, that the time has come for the 
stockholders seriously to consider the question either of reduc- 
ing its capital stock, or of winding up its affairs. 

The practice of borrowing and lending between each other 
for interest, in various modes, has been the the subject of fre- 
quent and just comment by our predecessors. We do not 
propose to discuss the general subject, but to allude to one of 
the modes which has fallen under our notice in the course of 
our examinations. We refer to the case in which one bank 
borrows of another on the pledge of its own bills, with an 
implied, if not an expressed, understanding, that they are to be 
withheld from circulation during the existence of the loan. 
This practice we regard as a manifest violation of chapter 224 
of the laws of 1837. In support of this opinion we give in an 
appendix the reply of the attorney-general to our inquiries on 
this point. [Appendix, No. 8.] 

We have been pained to find, in several instances, a most 
unsatisfactory account of the blank notes — the cashier relying 
solely upon the receipted bills of the engraver on file, and 
keeping-no independent account of notes received and issued. 
This matter has been the subject of repeated remark both in 



1859.] PUBLIC DOCUMENT— No. 6. 107 

private conversation and in the annual reports, and enough has 
been said. We introduce it here only to express our surprise 
that so little consideration should in any case be given to an 
account of the very highest importance. 

In verifying this account we often find that parcels of blanks 
have been removed from the custody of the bank, by the presi- 
dent, to his own residence, to be signed at his leisure, and in 
some cases without any receipt or voucher. We respectfully 
insist that this practice is wholly bad. These blanks are always 
sought for with avidity by villains as the best means of counter- 
feiting, and should be guarded as securely as the issues of the 
bank. We earnestly urge upon directors that they firmly 
insist in all cases that the bills be signed and prepared for issue, 
by whatever officer, in the banking rooms alone.* 

As has been already noticed, the past year has been signalized 
by the practical introduction among us of another system of 
banking, under the Act of 1851, entitled, " An Act to author- 
ize the Business of Banking." This Act embraces the main 
features of the general banking law of the State of New York,, 
passed April 18, 1838. 

Its leading principles are two. First, in respect to the mode 
of incorporation. This Act proposes to withdraw from the 
legislature all applications for bank charters, and thus to 
remove from it the appliances to corruption which are likely to 
follow in the course of such applications, and to leave capital 
in the business of banking free to follow the law of demand and 
supply, as in any other branch of business. And second, in 
respect to the business itself, this Act separates the department 

* The following notices recently found in the public prints, may serve to 
add some weight to the above remarks. 

From the Boston Advertiser, August 25, 1859 : — 

" The house of , President of the Bank, was broken open 

on Tuesday night, and two hundred sheets of unsigned bills were stolen" 

The following is a note from Thompson & Brothers, in the N. Y. Times : — 

; - The amount of genuine notes with forged signatures of the Bank, 

already returned in Wall Street, is several thousand. This morning we re- 
ceived a despatch from Nashville, announcing that packages of notes of the 

Bank of have been received there with forged signatures, and almost 

simultaneously the express brings large amounts of these in the street. This 
is the fourth like fraud within a fortnight." 



108 BANK COMMISSIONERS' REPORT. [Oct. 

of issue from the other departments, and transfers it directly 
to the State, which, by its proper officer, assumes its functions, 
engraves and prints and registers the notes, and delivers them 
with its own countersign upon them to the bank, on the deposit 
by it of such securities for their ultimate redemption as the law 
requires, which securities the State holds for the protection of 
the bill holders in case of failure by the bank to redeem them. 
These bills thus issued, the bank is authorized " to loan and 
circulate as money, according to the ordinary course of banking 
business, as regulated by the laws and usages of this Common- 
wealth." 

The advantage to the public claimed for this provision is the 
security which it gives to the bill holders, the larger class of 
whom are persons " whose habits and pursuits are little suited 
to explore the mechanism of trade, and who are in no way 
qualified to ascertain the solidity of the different banks whose 
paper is in circulation." 

The principle is not a new one. As early as 1825-6, a period 
of great commercial revulsion and loss, it was earnestly advo- 
cated in England by many of her leading statesmen, and by 
such writers as Ricardo and McCullock. In 1837, and at sub- 
sequent periods, Samuel Jones Loyd — in various papers of great 
ability — urged the separation of the issue from the banking 
•departments in the Bank of England.* 

It was first adopted by legislative enactment in New York, as 
above stated; and in 1844 it received the sanction of the British 
Parliament in the Act renewing the charter of the Bank of 
England, which required a transfer to the issue department of 
securities to the amount of £14,000,000, (of which £11,015,100 
were government debt to the bank,) and authorized the bank to 
issue its bills only to that amount, excepting that an over issue 
might be made on the further transfer of an equal amount of 
coin or bullion. 

The legislation of New York has been copied by many other 
States of the Union, so that not far from a moiety of the bank- 
ing capital of the country is now embraced by the free banking 
system. That its practical working in the State of New York, 

* Lord Overstone's Tracts, McCullock's edition. 



1859.] PUBLIC DOCUMENT— No. 6. 109 

for upwards of twenty-one years, has been satisfactory, is shown 
by the annual reports emanating from the banking department, 
and also- by the fact that the people have incorporated into their 
fundamental law the following provision : — ■ 

" The legislature shall provide by law for the registry of all bills or 
notes issued or put in circulation as money, and shall require ample 
security for their redemption in specie." 

With us the system is an experiment, and what the result 
will be, time will show. So satisfactory has been the experi- 
ment thus far to the stockholders and managers of the banks 
already organized, that they have increased the capital stock of 
two of them from $600,000 to $1,000,000 each; and while these 
sheets are passing into the hands of the printer, we learn that 
another is in process of organization in Boston, with a capital of 
$1,000,000. 

Doubtless, experience will point out additions and amendments 
to the law, necessary to its more perfect working and adapta- 
tion to the business methods and wants of our community. 
Some which have been suggested to us, we forbear to urge, 
for the reason that the experiment is as yet a brief one, and 
especially because the banking laws, in common with the body 
of our general laws, are passing through the ordeal of legislative 
revision, and what shape they will assume is not known to us, 
and will not be likely to come to the knowledge of the next 
general court in season for intelligent and safe legislation. 

In addition to the visitations and examinations made by us 
in regular course of duty, we have made some special exami- 
nations which deserve a brief notice. 

On the petition and complaint of Thomas Hunt and five other 
stockholders of the Bank of Brighton, and in obedience to the 
statute in such case made and provided, the Commissioners 
visited the bank on the 18th and 19th days of November last, 
and made a full and careful examination into its affairs, with 
especial reference to the charges set forth in said complaint. 
The result of the examination was duly reported to the Secretary 
of the Commonwealth, and the report will be found in the 
Appendix. 



110 BANK COMMISSIONERS' REPORT. [Oct. 

In compliance with the petition of the Salem Bank, the legis- 
lature passed an Act at its last session, authorizing the reduction 
of its capital stock from $250,000 to $187,500, provided the 
Bank Commissioners should, on examination, certify to the 
Governor and Council that such amount remained in the bank 
over and above all liabilities. Accordingly, on the 16th and 
17th of March last, the Commissioners made a careful exami- 
nation of the resources and liabilities of the bank, and found 
the amount of its assets over and above all liabilities to be 
sufficient to leave the requisite sum in available funds as capital 
stock. A copy of our certificate is given in the Appendix., 

We have made more than one examination into the affairs of 
the Bass River Bank, in Beverly. Our first examination, on 
the 8th of August last, revealed quite a different condition of 
things from that exhibited by the statement of the Cashier. We 
found its circulation to be $81,208, instead of $66,008. (See 
statement, page 86.) The loan, too, according to the best esti- 
mate we were able to put upon it, appeared to be of much less 
worth than the figures represented. The immediate liabilities 
of the bank were larger, and its resources very much less than 
they appeared in the statement presented by the Cashier. 

As our action in this matter is not yet concluded, and probably 
will not be until after the time when this Report must be sub- 
mitted, we propose to recur to the subject in the Appendix. 



1859.] 



PUBLIC DOCUMENT— Xo. 6. 



Ill 



SAVINGS BANKS. 

Tho Natick Savings Bank was incorporated by the legisla- 
ture of the present year, and has commenced business. This 
makes the whole number of savings institutions now in opera- 
tion in the Commonwealth, eighty-seven. Forty-eight of them 
have been examined by the Commissioners during the past 
year ; their names appear below : — 



Savings Institutions Examined- 



-1858-9. 



NAME. 




First day of Exam- 
ination. 



Berkshire County Savings Bank, . 
Boston Five Cents Savings Bank, . 
Bristol Countv Savings Bank, 
Cambridgeport Savings Bank, 
Charlestown Five Cents Savings Bank, 
Chelsea Savings Bank, . 
Chicopee Savings Bank, 
Clinton Savings Bank, . 
Danvers Savings Bank, . 
Dedham Institution for Savings, 
Dorchester Savings Bank, 
East Boston Savings Bank, . 
East Cambridge Five Cents Sav'gsBank 
Fall River Five Cents Savings Bank, 
Fitchburg Savings Bank, 
Foxborough Savings Bank, . 
Institution for Savings in Roxbury and 

its vicinity, ..... 
Institution for Savings in Newburyport 

and its vicinity, .... 
Institution for Savings in the town of 

Newton, ..... 
Lancaster Savings Bank, 
Lee Savings Bank, 
Lowell Five Cents Savings Bank, . 
Lynn Five Cents Savings Bank, 
Lynn Institution for Savings, . 
Middlesex Institution for Savings, . 
Millbury Savings Bank, 
Nantucket Institution for Savings, . 
Northampton Institution for Savings, 
North Adams Savings Bank, . 
North Bridgewater Savings Bank, . 
North Brook field Savings Bank, . 
Provident Institution for Savings, . 



Pittsfield, . 

Boston, 

Taunton, . 

Cambridge, 

Charlestown, 

Chelsea, 

Chicopee, 

Clinton, 

Danvers, 

Dedham, 

Dorchester, 

Boston, 

Cambridge, 

Fall River, 

Fitchburg, . 

Foxborough, 

Roxbury, . 



Xewburyport, 

Newton, 

Lancaster, 

Lee, . 

Lowell, 

Lynn, 

Lynn, 

Concord, 

Millbury, 

Nantucket, 

Northampton, 

North Adams, 

N. Bridgewater, . 

North Brookfield, 

Boston, 



June 


25, 


\ Dec. 


17, 


; Nov. 


23, 


1 July 
Nov. 


5, 
10, 


■ Nov. 


5, 


' May 


10, 


May 

i Aug. 


18, 
9, 


; Sept. 
July 

; July 
July 
Oct. 


12, 

29, 

2, 

11, 
22, 


Nov. 


22, 


May 


4, 


July 


19, 


April 


4, 


Aug. 


4, 


May 

Aug. 


17, 
17, 


April 13, 
Nov. 3, 


July 

April 
May 

Aug. 


21, 

20, 

6, 

31, 


May 


12, 


June 


24, 


Nov. 


1, 


April 
Nov. 


25, 

29, 



1859. 
1858. 
1858. 
1859. 
1858. 
1858. 
1859. 
1859. 
1859. 
1859. 
1859. 
1859. 
1859. 
1858. 
1858. 
1859. 

1859. 

1859. 

1859. 
1859. 
1859. 
1859. 
1858. 
1859. 
1859. 
1859. 
1859. 
1859. 
1859. 
1858. 
1859. 
1S58. 



112 BANK COMMISSIONERS' REPORT. [Oct. 

Savings Institutions Examined — Continued. 



NAME. 


Plaoe. 


First day of Exami- 






nation 




Quincy Savings Bank, .... 


Quincy, 


Aug. 8, 


1859. 


Rockport Savings Bank, 


Hock port, . 


Sept 6, 


1859. 


Salem Five Cents Savings Bank, . 


Salem, 


Aug. 1, 


1859. 


Seamen's Savings Bank, 


Provincetown, . 


July 14, 


1850. 


Shelburne Falls Five Cents Sav'gsBank, 


Shelburne, 


June 7, 


1859. 


Southbridge Savings Bank, . 


Southbridge, 


April 27, 


1859. 


Springfield Institution for Savings, 


Springfield, 


Sept. 15, 


1859. 


Stoneham Five Cents Savings Bank, 


Stoneham, . 


Nov. 10, 


1858. 


Waltham Savings Bank, 


Waltham, . 


Aug. 12, 


1859. 


Ware Savings Bank, .... 


Ware, 


Oct. 20, 


1858. 


Warren Institution for Savings, 


Charlestown, 


July 16, 


1859. 


Westfield Savings Bank, 


Westfield, . 


Aug. 18, 


1859. 


Winchendon Savings Bank, . 


Winchendon, 


April 22, 


1859. 


Worcester County Institution for Savings, 


Worcester, 


July 28, 


1859. 


Worcester Five Cents Savings Bank, 


Worcester, 


Mar. 26, 


1859. 


Worcester Mechanics' Savings Bank, 


Worcester, 


Mar. 26, 


1859. 



The general condition of the institutions above-named is set 
forth in the following: 



ABSTRACTS. 



FALL KIVER FIVE CENTS SAYINGS BANK— FALL RIVER. 

[October 22, 1858.] 



Deposits, ..... 

Profit and Loss, 

Bank Stock, .... 

Loans on Bank Stock, 

on Mortgage of Real Estate, 
on Personal Security, 

Cash, 



$90,700 88 
3,145 67 



$93,846 55 



,319 15 



31,980 91 
3,546 49 



$93,846 55 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Average annual rate of dividends, . 
No dividend of reserved profits has been made,* 
Average annual expenses, about 



1,493 
6£ per cent. 
6| per cent. 

$600 00 



* This institution has been in operation less than three years. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



113 



WARE SAVINGS BANK— WARE. 

[.October 29, 1858.] 



Deposits, 


' $183,308 67 




Profit and Loss, 




3,339 14 




Bank Stock, .... 






$46,000 00 


Loans on Bank Stock, 






14,820 00 


on Mortgage of Real Estate, 






34,750 00 


on Personal Security, 






70,515 00 


to Towns, 






12,579 00 


Expense Account, . 






205 27 


Deposit in Hampshire Manufacturers' Bank, 




7,200 00 


Cash on hand, 




578 54 






$186,647 81 


$186,647 81 



Number of Depositors, 989 

Rate of ordinary dividends for the last year, ... 5 per cent. 
Average annual rate of dividends for the last five years, . 5 per cent. 
Amount of last dividend of reserved profits, in 1855, (2 per ct.,) $2,437 50 

Next extra dividend in July, 1860. 

Average annual expenses, about $600 00 



NORTH BRIDGEWATER SAVINGS BANK— NORTH BRIDGE- 
WATER. 

[November 1, 1858.] 



Deposits, 

Profit and Loss, 

Bank Stock, .... 

Loans on Bank Stock, 

on Mortgage of Real Estate, 
on Personal Security, 

Cash, 

Deficit,* 




$9,308 25 

19,690 75 

19,775 31 

718 10 

1,229 32 



$50,721 73 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
No dividend of reserved profits has been made. 
Average annual expenses for the last five years, 



383 
5 per cent. 
5 per cent. 



$182 22 



* The Deficit is caused by total loss of ten shares Cochituate Bank Stock, by interest overdue 
and dividends not collected. 



15 



114 



BANK COMMISSIONERS' REPORT. 



[Oct. 



LYNN FIVE CENTS SAVINGS BANK— LY 

[November 3, 1858.] 



Deposits, 

Profit and Loss, 

Bank Stock, .... 

Loans on Bank Stock, 

on Mortgages of Real Estate, 
on Personal Security, 

Expense Account, . 

Cash, 






89,938 32 
271 00 


J ,459 00 

5,272 00 

1,050 00 

32 00 

1,396 32 




$10,209 32 


$10,209 32 




624 


Rate of ordinary dividends for the last year, 


5 per cent. 


Average annual rate of dividends for the last 5 years, 


5 per cent. 


No dividend of reserved profits has yet been made. 




First extra dividend will be made in .... 


January, 1861. 


Average annual expenses, less than 


$100. 



CHELSEA SAVINGS BANK— CHELSEA. 

[November 5, 1858.] 



Deposits, 

Profit and Loss, .... 

Bank Stock, ..... 

Loans on Bank Stock, 

on Mortgage of Real Estate, . 

on Personal Security, 

to Towns, .... 

Cash on interest in Tradesman's Bank, 






$38,960 53 
2,695 52 


$13,157 00 

21,855 00 

5,500 00 
1,144 05 






$41,656 05 


$41,656 05 


Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 


897 
5 per cent. 
$1,502 02 


Average annual rate of dividends for the last 5 years, 


5 per cent- 


No dividend of reserved profits has yet 


been made. 




First extra dividend will be made in . 


. 


July, 1S59. 


Average annual expenses for the last 5 


years, . 


$161 10 



1859.] 



PUBLIC DOCUMENT— No. 6. 



115 



CHARLESTOWN FIVE CENTS SAVINGS BANK— CHARLES- 
TOWN. 

[November 10, 1858.] 



Deposits, 

Profit and Loss, 

Bank Stock, .... 

Loans on Bank Stock, 

on Mortgage of Real Estate, 
on Personal Security, 
to County of Middlesex, 

Cash on hand, .... 



$37,333 33 
1,261 20 



$38,594 53 



$4,470 50 

28,034 07 

3,450 00 

2,000 00 

639 96 



$38,594 53 



Number of Depositors, 

Rate of ordinary dividends for the last year, 

Average annual rate of dividends for the last five years,* . 

No dividend of reserved profits has yet been made. 

First extra dividend will be made in . 

Expenses for the last year, . . . . . 



1,134 
5 per cent. 



April, 1859. 

$10 62 



STONEHAM FIVE CENTS SAVINGS BANK— STONEHAM. 

[November 10, 1858.] 



Deposits, 

Profit and Loss, 

Bank Stock, .... 

Loans on Bank Stock, 

on Mortgage of Real Estate, 
on Personal Security, 
to Town, 

Expense Account, . 

Cash on hand, .... 



$4,609 63 
187 91 



$4,797 54 



$400 00 

2,000 00 
1,270 00 

787 50 
69 97 

270 07 



t,797 54 



Number of Depositors, 

Rate of ordinary dividends for the last year, 

Average annual rate of dividends for the last five years,* 

No dividend of reserved profits has yet been made. 

First extra dividend will be made in . 

Total expense from the commencement (three years), 



350 
5 per cent. 



Nov., 1860. 
$69 97 



* In operation less than five years. 



116 



BANK COMMISSIONERS' REPORT. 



[Oct. 



FITCHBURG SAVINGS BANK— FITCIIBURG. 

[November 22, 1858.] 



Deposits, . 

Profit and Loss, 

Suspense Account, . 

Bank Stock, 

Loans on Bank Stock, 

on Mortgage of Real Estate, 
on Personal Security, 
to Towns and County, . 

Cash on hand, .... 



$475,054 97 

14,138 58 

50 00 



$489,243 50 



$73,500 00 

8,590 00 

204,900 00 

140,724 20 

54,303 38 

7,225 92 



$489,243 50 



Number of Depositors, 2,502 

Rate of ordinary dividends for the last year, ... 5 per cent. 
Average annual rate of dividends for the last five years, . 7 per cent. 
Amount of dividends of reserved profits during last five years, . $17,109 08 
Next extra dividend, 1861 



Average annual expenses for the last five years, nearly 



$700 00 



BRISTOL COUNTY SAYINGS BANK— TAUNTON. 

[November 23, 1858.] 



Deposits, 


$425,210 86 




Profit and Loss, 






15,981 35 




Bank Stock, .... 








$38,901 71 


Loans on Bank Stock, 








1,070 00 


on Mortgage of Real Estate, 








273,341 29 


on Personal Security, 








113,920 81 


to County of Bristol, 








10,000 00 


Real Estate, .... 








1,506 59 


Expense Account, . 








1,598 33 


Cash, 








853 48 








$441,192 21 


$441,192 21 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 

Dividend of reserved profits, 

Extra dividends are not made. 

Average annual expenses for the last five years, 



2,270 
5 per cent. 
. $20,695 14 
51 per cent. 
None. 

$1,585 10 



1859.] 



PUBLIC DOCUMENT— No. 6. 



117 



PROVIDENT INSTITUTION FOR SAVINGS IN THE TOWN OF 

BOSTON— BOSTON. 

I 

[November 29, 1858.] 



Deposits, 

Profit and Loss, 

Suspense, ..... 

Bank Stock, .... 

Public Funds, (Massachusetts Scrip,) 

Real Estate, .... 

Loans on Bank Stock, 

on Public Funds, . 
on Real Estate, 
on Personal Security, 
to Counties and Towns, . 

Deposits in Banks, bearing interest, 

Cash on hand, .... 



55,897,320 36 

178,705 QQ 

2,996 50 



$6,079,022 52 



$1,068,480 00 

227,520 00 

53,034 83 

20,500 00 

17,000 

2,178,463 

1,301,000 

564,500 

150,000 00 

498,524 19 



00 
50 
00 
00 



$6,079,022 52 



Number of Depositors, 

Rate of ordinary dividends for the last year, . 

Amount of ordinary dividends for the last year, 

Average annual rate of dividends for the last five years, 

Last dividend of reserved profits, (in 1857,) . 

Next extra dividend will be made in 

Average annual expenses, about .... 



28,660 
4 per cent. 
. $211,098 70 
8 per cent. 
. $629,848 28 
July, 1862. 

$21,760 00 



BOSTON FIVE CENTS SAVINGS BANK— BOSTON. 

[December 17, 1858.] 



Deposits, 


$1,528,784 21 




Profit and Loss, 


. 






37,183 85 




Suspense, . 


. 






1,321 00 




Bank Stock, 


. 








$214,191 00 


Public Funds, . 


. 








157,400 00 


Real Estate, 


. 








84,546 42 


Loans on Bank Stock, 


. 








55,760 00 


on Mortgage of Real Estate, 








802,350 00 


on Personal Security, 








65,700 00 


to Towns, .... 








60,800 00 


Cash on hand, .... 






126,541 64 










$1,567,289 00 


$1,567,289 06 



Number of Depositors, 

Rate of ordinary dividends for the last year, . 

Amount of ordinary dividends for the last year, 

No dividend of reserved profits has yet been made. 

First extra dividend is to be made in 

Average annual expenses from the beginning, (in 1854,) 



17,198 
5 per cent. 

$50,016 12 

May, 1S59. 
. " $5,893 70 



113 



BANK COMMISSIONERS' REPORT. 



[Oct. 



WORCESTER MECHANICS' SAVINGS BANK— WORCESTER. 

4 [March 2G, 1859.] 



Deposits, ..... 

Profit and Loss, 

Bank Stock, .... 

Loans on Bank Stock, 

on Mortgage of Real Estate, 
on Personal Security, 

Deposits bearing interest, . 

Cash on band, .... 



&413,538 04 

15,087 GO 



$429,225 70 



$35,900 00 
i3,750 00 

208,700 
136,150 



!,899 
82G 



00 
00 
39 
31 



$429,225 70 



Number of Depositors, 1,866 

Rate of ordinary dividends for the last year, ... 5 per cent. 
Average annual rate for the last five years, . . . 5| per cent. 
Dividend of reserved profits during the last five years, (2pr. ct.,) $12,658 26 
Next extra dividend in ...... January, 1862. 

Average annual expenses, about $1,000 00 



WORCESTER FIVE CENTS SAVINGS BANK— WORCESTER. 

[March 26, 1859.] 



Deposits, ..... 

Profit and Loss, 

Bank Stock, .... 

Loans on Bank Stock, 

on Mortgage of Real Estate, 
on Personal Security, 
to Towns, 

Cash in City Bank, . 

on hand, .... 



$59,723 44 
1,086 33 



$60,809 77 



$27,100 00 

6,400 00 

300 00 

6,096 00 

20,000 00 

913 77 



$60,809 77 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last four years,* 
No dividend of reserved profits has yet been made. 

First extra dividend will be in 

Average annual expenses for the last four years, 



1,351 
5 per cent. 

$2,258 50 
5 per cent. 

July, 1859. 

$381 27 



* Commenced in 1854. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



119 



INSTITUTION FOR SAYINGS IN NEWBURYPORT AND ITS 
VICINITY— NEWBURYPORT. 

[April 4, 1859.] 



Deposits, 


$1,338,428 22 




Profit and Loss, .... 






32,081 37 




Bank Stock, .... 








$151,639 34 


Public Funds,* .... 








7,000 00 


Real Estate, .... 








3,000 00 


Loans on Bank Stock, 








6,810 00 


on Real Estate, 








371,130 04 


on Railroad Stock, . 








300 00 


on Manufacturing Stocks,f 








12,910 51 


on Personal Security, 








193,030 00 


to Cities and Towns, 








230,600 00 


to Corporations, 








55,030 00 


Annuity in trust,! 








5,302 79 


Fiftv Associates, 








25,000 00 


East Boston Ferry Stock, . 








264 00 


Sundry individuals, . 








46 94 


Expenses, .... 








1,372 53 


In Ocean Bank, bearing interest, 








6,453 75 


Cash on hand, .... 








619 69 








.$1,370,509 59 


§1,370,509 59 



Number of Depositors, .... 
Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits during the last five years, 
Next extra dividend, if at all, in ... . 
Average annual expenses for the last five years, 



5,973 
6 per cent. 
. §72,676 68 
6 per cent. 
None. 

1860. 
S2,881 19 



* Massachusetts six per cent. t Jaraes'3 Mills and Bartlctt Mills. 

+ Massachusetts Hospital Life Insurance Company. 



120 



BANK COMMISSIONERS' REPORT. 



[Oct. 



LOWELL FIVE CENTS SAVINGS BANK— LOWELL. 

[April 13, 1859.] 



Deposits, ....... 


$362,294 15 




Profit and Loss, 








4,725 87 




Bank Stock, 










3,915 00 


Loans on Bank Stock, 










2ii.iJ.10 00 


on Ileal Estate, 










149,:5 15 00 


on Personal Security, 










54,451 88 


on Railroad Stock, . 










1,200 00 


to Countv and Towns, 










3(5,500 00 


Hide and Leather Bank, . 










7,085 00 


Bank of Commerce, . 










30,000 00 


Cash, .... 










0,973 14 










$367,020 02 


$367,020 02 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends, . 
Dividend of reserved profits in 1857, 

Next extra dividend, 

Expenses last year, 



2,927 
5 per cent. 
. $13,550 08 

$5,633 88 
July, 1860. 

$604 85 



THE MIDDLESEX INSTITUTION FOR SAVINGS— CONCORD. 

[April 20, 1859.] 



Deposits, . . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
on Railroad Stock, . 
to County and Towns, 

Cash, .... 



5,178 75 
41,493 41 



$576,672 16 



$158,700 00 
15,480 00 
247,000 00 
44,388 00 
6,700 00 
85,835 00 
18,569 16 



$576,672 16 



Number of depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate for the last five years, a little over 
Dividend of reserved profits in June, 1855, 
Next extra dividend, ...... 

Average annual expenses, about .... 



2,191 
4 per cent. 
. $20,332 87 
7 per cent. 
. $43,455 43 
June, 1860. 
$1,000 00 



1859.] 



PUBLIC DOCUMENT— No. 6. 



121 



WINCHENDON SAYINGS BANK— WINCHENDON. 

[April 22, 1859.] 



Deposits, 


$14,503 57 




Profit and Loss, 








489 33 




Bank Stock, 










$1,590 00 


Loans on Bank Stock, 










— 


on Real Estate, 










7,370 15 


on Personal Security, 










3,912 50 


Expense Account, 










156 37 


Cash on hand, . 










1,963 88 




$14,992 90 


$14,992 90 




196 


Rate of ordinary dividends for the last year, 


5 per cent. 


Amount of ordinary dividends for the last year, 


$478 68 


Average annual rate of dividends for the last five years,* . 


- 


No dividend of reserved profits has yet been made. 




First extra dividend will be made in .... 


Nov., 1859. 


Average annual expenses, about 


$30 00 



NORTH BROOKF1ELD SAVINGS BANK— NORTH BROOKFIELD. 

[April 25, 1859.] 



Deposits, .... 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to Towns, 

Expense Account, . 

Cash on hand, . 



$13,303 45 
1,163 58 



$14,467 03 



$1,200 00 

4,700 00 
5,012 83 
1,945 00 
215 27 
1,393 93 



$14,467 03 



Number of Depositors, 

Rate of ordinary dividends for the last year, 

Average annual rate of dividends, 

No dividend of reserved profits has yet been made. 

First extra dividend will be in . 

Expenses from September, 1854, 



220 
5 per cent. 
5 per cent. 



January, 1860. 
$215 27 



* Codjmenced in 1854. 



16 



122 



BANK COMMISSIONERS' REPORT. 



[Oct. 



SOUTHBRIDGE SAVINGS BANK— SOUTHBRIDGE. 

[April 27, 1859.] 







$110,093 93 




Profit and Loss, 


. 


1,430 90 




Bank Stock, 


. 




813,00i. 


Public Funds, (Massachusetts 


5 per cent.,) 




15,000 00 


Loans on Bank Stock, 


... 




11,640 00 


on Real Estate, 


. . 




31,050 00 


on Personal Security, 


. . 




32,050 00 


to Towns, 


... 




7,000 00 


Cash in Southbridge Bank, 


... 




8,300 00 


Cash on hand, 






84 83 




$118,124 83 


$118,124 83 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, . 
Average annual rate of dividends for the last 5 years, . 
Dividend of reserved profits in July, 1858, . 

Next extra dividend, 

Average annual expenses for the last five years, . 



720 
5 per cent. 
. $4,785 77 
7 per cent. 
. $5,002 65 
July, 1863. 
$227 00 



FOXBOROUGH SAVINGS BANK— FOXBOROUGH. 

[May 4, 1859.] 



Deposits, 

Profit and Loss, 

Bank Stock, .... 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 

Uncollected interest and dividends, 

Cash on hand, .... 




$14,284 11 
357 79 


$5,603 25 

4,930 00 

3,071 00 

337 64 

700 01 






$14,641 90 


$14,641 90 



Number of Depositors, 

Rate of ordinary dividends for the last year, 

Average annual rate for the last five years,* 

No dividend of reserved profits has yet been made. 

First extra dividend will be in . 

Average annual expenses, about .... 



261 
5 per cent. 



May, 1861. 
$100 00 



* Commenced in -1855. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



123 



MILLBURY SAVINGS BANK— MILLBURY. 

[May 6, 1859.] 



Deposits, 


$20,053 51 




Profit and Loss, 








710 76 




Bank Stock, 










$1,500 00 


Loans on Bank Stock, 










2,900 00 


on Real Estate, 










12,350 00 


Personal Security, . 










1,500 00 


to Town of Millbury, 










1,800 00 


Expense Account, . 










100 99 


Cash on hand, .... 










613 28 




$20,764 27 


$20,764 27 


Number of Depositors, 


154 


Rate of ordinary dividends for the last year, . . 


5 per cent. 


Amount of ordinary dividends for the last year, 


. $936 66 


Average annual rate of dividends for the last five years,* 


- 


No dividend of reserved profits has yet been made. 




First extra dividend is to be made in .... 


July, 1859. 


Average annual expenses, about 


$85 00 



CHICOPEE SAVINGS BANK— CHIC OPEE. 

[May 10, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 

Cash, .... 



$33,296 82 
1,505 03 



$34,801 85 



$3,090 00 

17,780 00 

12,870 00 

1,061 85 



$34,801 85 



Number of Depositors, 400 

Rate of ordinary dividends for the last year, ... 5 per cent. 
Average annual rate for the last five years, ... 7 per cent. 
Dividend of reserved profits, voted, but not yet made up, 

estimated at $1,000 00 

Next extra dividend, in 1864. 

Average annual expenses, $100 00 



* Commenced in 1854. 



124 



BANK COMMISSIONERS' REPORT. 



[Oct. 



NORTHAMPTON INSTITUTION FOR SAVINGS-NORTHAMPTON. 

[May 12, 1859.] 



Deposits, .... 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to Towns, 

Cash, .... 



$98,050 58 
1,093 52 



$100,044 05 



$28,000 00 

7,160 00 

36,757 46 

25,480 28 

450 00 

2,196 31 



$100,0^4 05 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits in April, 1858, 

Next extra dividend, 

Average annual expenses, 



650 
5 per cent. 
. $4,134 47 
6-| per cent. 

$1,965 85 
April, 1863. 

$525 40 



LANCASTER SAVINGS BANK— LANCASTER. 

[May 17, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to Counties and Towns, 

Cash, .... 



$195,843 78 
6,697 11 



$202,540 89 



$25,100 00 

10,850 00 

104,695 00 

48,379 99 

9,000 00 

4,515 90 



$202,540 89 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Ajnount of ordinary dividends for the last year, 
Average annual rate of dividends, . 
Dividend of reserved profits, (in July, 1855,) . 
Next extra dividend, ..... 

Average annual expenses for the last five years, 



1,046 
5 per cent. 
. $8,545 51 
7 per cent. 

$6,688 31 
July, 1860. 

$214 18 



1859.] 



PUBLIC DOCUMENT— No. 6. 



125 



CLINTON SAYINGS BANK— CLINTON. 

[May 18, 1859.] 



Deposits, .... 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to Towns, 

Cash on hand, . 



$56,258 95 
1,794 95 



$58,053 90 



$4,500 00 

24,950 00 

18,163 94 

5,000 00 

5,439 96 



$58,053 90 



Number of Depositors, 

Kate of ordinary dividends the last year, . ' 
Amount of ordinary dividends the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits in 1855, .... 

Next extra dividend, 

Average annual expenses for the last five years, . 



343 
5 per cent. 

. $7,752 14 
5|- per cent. 

$749 97 
Oct., 1860. 

$132 49 



SHELBURNE FALLS FIVE CENTS SAVINGS BANK- 

SHELBURNE. 

[June 7, 1859.] 



Deposits, 


$17,468 57 




Profit and Loss, 








$52 70 


Bank Stock, 








1,000 00 


Loans on Bank Stock, 








— 


on Real Estate, 








9,275 00 


on Personal Security, 








5,790 78 


to Towns, 








370 00 


Expense Account, . 








261 20 


Cash in Shelburne Falls Bank, 








300 00 


Cash on hand, . 








418 89 








$17,468 57 


$17,468 57 



Number of Depositors, 

Rate of ordinary dividends the last year, 

Average annual rate of dividends for the last 5 years,* 

No dividend of reserved profits has yet been made. 

First extra dividend will be in 

Average annual expenses, 



316 
5 per cent. 



May, 1861. 
$144 00 



* Not in operation so long. 



120 



BANK COMMISSIONERS' REPORT. 



[Oct. 



NORTH ADAMS SAVINGS BANK— ADAMS. 

[June 24, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to Town of Adams, 

Cash, in Adams Bank, on interest, 
on hand, .... 



$35,821 30 
649 L3 



$36,470 43 



$7,000 00 
2,200 00 

18,375 00 

5,0i)2 91 

2,805 00 

97 52 



$36,470 43 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Average annual rate for the last five years, 
Dividend of reserved profits for five years, (in 1858,) 

Next extra dividend, in 

Expenses the past year, 



232 

5 per cent. 
7 per cent. 
. $964 78 
1863. 

$113 93 



BERKSHIRE COUNTY SAVINGS BANK— PITTSFIELD. 

[June 25, 1859.] 



Deposits, 


$155,400 92 




Profit and Loss, 








7,945 49 




Bank Stock, .... 










$62,300 00 


Loans on Bank Stock, 










7,700 00 


on Real Estate, 










13,300 00 


on Personal Security, 










58,757 50 


to County and Town, 










10,000 00 


United States Stock, 










8,000 00 


Premium Account, . 










1,556 44 


Cash, .... 








1,732 47 










$163,346 41 


$163,346 41 



Number of Depositors, ..... 
Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate for the last five years, 
Dividend of reserved profits, (January, 1857,) . 
Next extra dividend, . . . 

Average annual expenses for the last five years, 



826 
5 per cent. 
. $5,573 06 
7 per cent. 

$4,918 90 

January, 1862. 

$307 28 



1859.] 



PUBLIC DOCUMENT— No. 6. 



127 



EAST BOSTON SAVINGS BANK— BOSTON. 

[July 2, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 

Cash on hand, . 



1112,807 17 
4,351 01 



1117,158 18 



133,491 87 

8,600 00 

41,800 00 

30,390 00 

2,876 31 



$117,158 18 



Number of Depositors, .... 
Rate of ordinary dividends the last year, . 
Amount of ordinary dividends the last year, 
Average annual rate for the last five years, 



527 
5 per cent. 
. |4,181 47 
7 per cent. 



Dividend of reserved profits for the last five years is to be paid 

July 20, 1859. 
Average annual expenses for the last five years, 



$749 32 



CAMBRIDGEPORT SAVINGS BANK— CAMBRIDGE. 

[July 5, 1859.] 



Deposits, . 
Profit and Loss, 
Bank Stock, 
Loans on Bank Stock, 

on Real Estate, 

on Personal Security, 

to Cities and Towns, 

to Cambridge Bank, on interest, 
Cash, 



$73,328 17 
1,099 69 



$74,427 86 



$12,095 33 

23,854 88 
10,000 00 
14,500 00 
12,000 00 
1,977 65 



$74,427 86 



Number of Depositors, 513 

Rate of ordinary dividends the last year, .... 4 per cent. 
Amount of ordinary dividends the last year, .... $1,784 82 
Average annual rate of dividends for the last five years, . 8 per cent. 
Dividend of reserved profits for five )-ears, (Oct., '58,) 4 per ct. per annum. 

Next extra dividend, October, 1863. 

Average annual expenses for the last five years, . . . $222 92 



128 



BANK COMMISSIONERS' REPORT. 



[Oct. 



EAST CAMBRIDGE FIVE CENTS SAVINGS BANK— CAM- 
BRIDGE. 

[July 11, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 

Expense Account to date, 

Cash on hand, . 



$58,138 13 

2,356 97 



$00,405 10 



$20,084 85 

37,400 00 

317 88 
2,092 37 



$60,495 10 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits during that time, . 

Next extra dividend, 

Average annual expenses for the last five years, 



650 
4 per cent. 

$1,295 14 
7 per cent. 

$775 62 

October, 1800- 

$164 88 



SEAMEN'S SAVINGS BANK— PRO VINCET OWN. 

[July 14, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Railroad Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to TownSj 

Cash, 



$05,564 26 
1,904 46 



$67,408 72 



$13,725 33 

828 75 

23,918 00 

15,391 40 

6,340 00 

7,265 24 



$67,468 72 



Number of Depositors, 

Rate of ordinary dividends for the last year, 

Amount of ordinary dividends for the last year, 

Average annual rate for the last five years, 

Dividend of reserved profits during the last five years, 

No extra dividend is expected to be made. 

Average annual expenses, about .... 



342 
7 per cent. 
. $2,471 10 
7| per cent. 
None. 

$93 00 



1859.] 



PUBLIC DOCUMENT— No. 6. 



129 



WARREN INSTITUTION FOR SAVINGS- 

IJuly 16, 1859.] 



-CHARLESTOWN. 



Deposits, 


$1,027,683 08 




Interest, 






29,827 56 




Profit and Loss, 






63,581 13 




Bank Stock, .... 








$38,179 00 


Real Estate, .... 








25,078 83 


Loans on Bank Stock, 








13,625 00 


on Real Estate, 








727,733 00 


on Personal Security, 








105,700 00 


to County, Cities and Towns, 








114,600 00 


Treasury Notes, 








60,000 00 


Interest Accrued, 








16,961 15 


Cash, 








19,214 79 








$1,121,091 77 


$1,121,091 77 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits for the last five years, . 

Next extra dividend, 

Average annual expenses, about .... 



4,396 
4 per cent. 
. $33,164 21 
7 t 6 q per cent 
. $45,186 32 
January, 1860. 
$3,000 00 



INSTITUTION FOR SAVINGS IN ROXBURY AND ITS 
VICINITY— ROXBURY. 

[July 19, 1859.] 



Deposits, . 


$434,307 80 




Profit and Loss, 






20,242 16 




Bank Stock, 








$111,274 07 


Real Estate, 








9,989 75 


Loans on Bank Stock, 








14,550 00 


on Real Estate, 








79,000 00 


on Personal Security, 








61,586 42 


to City of Roxbury, 








151,000 00 


Deposit in Safety Fund Bank, on interest, 




20,000 00 


Cash on hand, 




7,149 72 








$454,549 96 


$454,549 96 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits, in October, 1855, . 

Next extra dividend, 

Average annual expenses for the last five years, 



2,300 
4 per cent. 
. $13,920 98 
1\ per cent. 
. $19,586 78 
October, 1860. 
$1,550 00 



17 



130 



BANK COMMISSIONERS' REPORT. 



[Oct. 



LYNN INSTITUTION FOR SAVINGS- 

[July21, 1859.] 



-LYNN. 



Deposits, .... 




$278,059 68 




Profit and Loss, 


. 


13,302 71 




Bank Stock, 


... 




$39,700 00 


Loans on Bank Stock, 


. • • 




14,310 00 


on Real Estate, 


... 




123,259 00 


on Personal Security, 


. . 




27,666 00 


to Cities and Towns, 


. . 




50,200 00 


Deposit in Lynn Mechanics' '. 


3ank, on in- 






terest, .... 


. 




26,800 00 


Deposit in Commercial Bank 


, Salem, on 






interest, 


... 




10,000 00 


Cash on hand, . 






97 39 




$292,022 39 


$292,022 39 



Number of Depositors, 

Rate of ordinary dividends for the last year, 

Average annual rate of dividends for the last five years, 

Dividends of reserved profits, in October, 1856, 

Next extra dividend, 

Average annual expenses for the last five years, 



2,097 
5 per cent. 
61 per cent. 
. $6,623 55 
October, 1859. 

$599 76 



WORCESTER COUNTY INSTITUTION FOR SAVINGS- 
WORCESTER. 

[July 28, 1859.] 



Deposits, . 




$2,284,647 93 




Profit and Loss, 


. . 






56,282 74 




Special Deposits, 


. . 






5,637 95 




Bank Stock, 


. . 








$410,350 00 


Loans on Bank Stock, 


. . 








15,410 00 


on Real Estate, 


. , 








1,260,386 09 


on Personal Security, 






, 


373,272 25 


to County, City 


and Towns, 








163,010 10 


Reserved Profits,* 


. . 








19,492 21 


Worcester Bank, 


. . 








71,051 48 


Central Bank, . 


. . . 








26,000 00 


Cash, 


• 








7,596 49 










$2,346,568 62 


$2,346,568 62 



Number of Depositors, 

Rate of ordinary dividends for the last year, 

Average annual rate of dividends for the last five years, 

Dividend of reserved profits, in July, 1858, 

Next extra dividend, . . . . 

Average annual expenses for the last five years, 



11,008 
5 per cent. 
7^ per cent. 
. $139,104 74 
1863. 
. $3,773 78 



* The Treasurer explains this as meaning uncollected interest. 



1859.] 



PUBLIC DOCUMENT— No. 6. 



131 



DORCHESTER SAVINGS BANK— DORCHESTER. 

[July 29, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to Town of Dorchester, 

Cash on hand, . 



$83,312 90 
538 14 



$16,533 00 
1,000 00 
55,600 00 
2,700 00 
5,000 00 
3,018 04 



$83,851 04 



$83,851 04 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits, in 1858, 

Next extra dividend, 

Average annual expenses for the last five years, 



546 
5 per cent. 

$3,213 30 
61 per cent. 
$1,391 76 
1863 
385 65 



SALEM FIVE CENTS SAVINGS BANK— SALEM. 

[August 1, 1859.] 



Deposits, 


$219,516 85 




Profit and Loss, 








1,757 05 




Bank Stock, .... 










$22,165 83 


Loans on Bank Stock, 










11,020 00 


on Real Estate, 










88,540 00 


on Personal Security, 










42,630 65 


Salem City Scrip, 










3,100 00 


Note secured by City Scrip, 










600 00 


Loans to banks, on interest, 










46,004 00 


U. S. Treasury Notes, 










6,300 00 


Cash in Naumkeag Bank, . 










780 00 


Cash on hand, .... 










133 42 










$221,273 90 


$221,273 90 



Number of Depositors, ...... 

Rate of ordinary dividends for the last year, 
Average annual rate for the last five years.* 
No dividend of reserved profits has yet been made. 

First extra dividend, 

Average annual expenses for the last four years, about 



2,270 
5J per cent. 



July, 1860. 
$1,100 00 



* Commenced in 1855. 



132 



BANK COMMISSIONERS' REPORT. 



[Oct. 



QUINCY SAVINGS BANK— QUINCY. 

[August 3, 1859.] 



Deposits, .... 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to Towns, 

Washington Mills, 

Cash, .... 



$224,709 03 
9,496 96 



$234,205 99 



$37,065 66 

450 00 

163,820 00 

11,203 02 

11,500 00 

2,300 00 

7,807 31 



$234,205 99 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits in 1855, 
Average annual expenses for the last five years, about 



1,159 
5 per cent. 

$9,156 63 

7 t |q per cent. 

$5,443 83 

400 00 



INSTITUTION FOR SAVINGS IN THE TOWN OF NEWTON- 
NEWTON. 

[August 4, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to Town of Newton, 

Cash on hand, . 



$18,352 52 
112 60 


$1,700 00 

13,054 00 

2,060 00 

1,000 00 

651 12 


$18,465 12 


$18,465 12 



Number of Depositors, 180 

Rate of ordinary dividends for the last year, ... 5 per cent. 
Amount of ordinary dividends for the last year, . . . $790 35 

Average annual rate of dividends for the last five years, about 6i per cent. 
Dividend of reserved profits in January, 1859, .... $726 20 

Next extra dividend, January, 1864. 

Average annual expenses for the last five years, . . . $55 80 



1859.] 



PUBLIC DOCUMENT— No. 6. 



133 



DANVERS SAVINGS BANK— DANVERS. 

[August 9, 1859.] 



Deposits, 


$243,902 97 




Profit and Loss, 






9,908 48 




Bank Stock, .... 








$76,266 67 


Loans on Bank Stock, 








2,900 00 


on Real Estate, 








104,002 53 


on Personal Security, 








30,651 00 


to Towns, 








24,675 00 


Village Bank, deposit on interest, 








10,000 00 


Cash on hand, .... 








250 00 


in Village Bank, 








5,066 25 








$253,811 45 


$253,811 45 



Number of Depositors, ...... 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits in October, 1855, . 
Next extra dividend, ...... 

Average annual expenses for the last five years, 



1,321 
5 per cent 

$9,942 28 

7 per cent. 

. ' $5,789 52 

. Oct., 1860. 

$636 32 



WALTHAM SAVINGS BANK— WALTHAM. 

[August 12, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to County and Towns, 

Cash, .... 



$114,449 73 
653 60 



$115,103 33 



$9,492 00 

74,749 80 
23,490 00 

7,371 53 



$115,103 33 



Number of Depositors, . . 

Rate of ordinary dividends for the last year, 

Amount of ordinary dividends for the last year, 

Average annual rate for the last five years, a fraction over 

Dividend of reserved profits in April, 1858, 

Next extra dividend, ....... 

Average annual expenses for the last five years, 



1,022 

5 per cent. 

6 per cent. 

. $1,058 71 
April, 1803. 

$300 00 



134 



BANK COMMISSIONERS' REPORT. 



[Oct. 



LEE SAVINGS BANK— LEE. 

[August 17, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Heal Estate, 
on Personal Security, 
to County and Towns, 

Cash on hand, . 



$50,927 26 
186 40 



$51,113 66 



$9,844 50 

18,650 00 
16,250 37 

4,700 00 
1,068 79 



$51,113 66 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits in June, 1857, 

Next extra dividend, 

Average annual expenses, about .... 



423 
6 per cent. 

6^ per cent. 

$946 87 
June, 1862. 

$200 00 



WESTFIELD SAVINGS BANK— WESTFIELD. 

[August 18, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 
to Town of Westfield, 

Balance of Interest Account, 

Deposit in Westfield Bank, 



$65,868 24 
42 25 



$65,910 49 



$4,400 00 

9,400 00 

18,450 00 

14,355 00 

2,000 00 

232 59 

17,072 90 



$65,910 49 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends to July, 1858, 
First dividend of reserved profits in July, 1858, 

Next extra dividend, 

Average annual expenses for the last five years, 



460 
6 per cent. 

6-|- per cent. 
\\ per cent. 
July, 1863. 

$48 47 



1859.] 



PUBLIC DOCUMENT— No. 6. 



135 



NANTUCKET INSTITUTION FOR SAYINGS— NANTUCKET. 

[August, 31, 1859.] 



Deposits, 


$356,994 24 




Profit and Loss, 






9,036 93 




Bank Stock, .... 








$85,300 00 


Loans on Bank and other Stocks, 








13,493 00 


on Mortgage of Real Estate, 








97,346 79 


on Personal Security, 








153,179 14 


Real Estate, .... 








3,000 00 


Suspended Debt, 








1.242 56 


Premium, . . 








8,225 17 


Cash on hand, .... 








4,244 51 








$366,031 17 


$366,031 17 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits during the last five years, 
Next extra dividend, ...... 

Average annual expenses, about .... 



1,225 
6 per cent. 
. $19,383 34 
6 per cent. 
None. 
Uncertain. 

$750 00 



ROCKPORT SAYINGS BANK— ROCKPORT. 

[September 5, 1859.] 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Real Estate, 
on Personal Security, 

Cash on hand, . 



$22,251 11 

284 94 



>2,536 05 



$15,590 00 

700 00 

5,306 00 

940 05 



22,536 05 



Number of Depositors, ...... 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits, (8 per cent.) in 1858, . 

Next extra dividend, 

Average annual expenses, about .... 



284 
5 per cent. 

6-| per cent. 

$785 66 
July, 1863. 

$70 00 



136 



BANK COMMISSIONERS' REPORT. 



[Oct. 



DEDIIAM INSTITUTION FOR SAVINGS— DEDHAM. 

[September 12, 1859-1 



Deposits, . 

Profit and Loss, 

Bank Stock, 

Loans on Bank Stock, 
on Ileal Estate, 
on Personal Security, 
to County and Towns, 

Cash on hand, . 



$529,730 21 
24,004 48 



$553,740 09 



$25,416 50 

42,820 00 
318,102 07 
94,323 96 
25,200 00 
17,817 56 



$553,740 09 



Number of Depositors, 2,535 

Rate of ordinary dividends for the last year, ... 5 per cent. 
Amount of ordinary dividends for the last year, . . . $23,778 08 
Average annual rate of dividends for the five years preceding 

May, 1855, nearly 6^- per cent. 

Dividend of reserved profits in May, 1856, .... $35,903 85 

Next extra dividend, May, 1861. 

Average annual expenses for the last five years, . . . $1,342 85 



SPRINGFIELD INSTITUTION FOR SAYINGS— SPRINGFIELD. 

[September 15, 1859.] 



Deposits, 


$734,177 68 




Profit and Loss, 






366 66 




Bank Stock, 








$198,462 10 


Loans on Bank Stock, 








1,500 00 


on Real Estate, 








307,702 40 


on Personal Security, 








121,774 00 


to Cities and Towns, 








27,577 00 


Public Funds* . 








11,000 00 


In Springfield and Chicopee Banks, 






5,400 00 


Cash on hand, . . . . 






1,128 84 




> 




$734,544 34 


$734,544 34 



Number of Depositors, 

Rate of ordinary dividends for the last year, 
Amount of ordinary dividends for the last year, 
Average annual rate of dividends for the last five years, 
Dividend of reserved profits in July, 1859, 

Next extra dividend, 

Average annual expenses for the last five years, 



. . 3,257 
5 per cent. 
. $31,268 32 
6-£ per cent. 
. $24,233 02 
July, 1864. 
$1,782 21 



* Boston City 5 per cent. Bonds, $1,000 ; U. S. Treasury Notes, 5£ per cent., $10,000. 



1859.] PUBLIC DOCUMENT— No. 6. 137 



In addition to the foregoing tables, we have but few remarks 
to offer respecting the savings banks visited by us during the 
past year. We have marked a steady increase in the deposits, 
and, in general, have found the investments to be legally made. 
In a few instances loans have been made to corporations as 
principals ; but, on attention being called to them as unauthor- 
ized by law, the practice has been changed. 

We have found but one instance of the practice of discounting 
business paper. This was in one of the recently established five 
cents savings banks. On a statement of the objections to its 
continuance, and an elaborate argument by the treasurer in its 
favor, he consented to abstain from the practice, out of respect 
to the wishes rather than the reasons of the Commissioners. 

It may not be improper to state that the argument resorted 
to in this, as in the cases mentioned in our last Report, is directed 
to the point that individuals may lawfully take out interest in 
advance, and that therefore a savings bank may do it. The 
obvious, and, it seems to us," conclusive answer to which is, that 
a savings bank has no power t© make investments except in 
some one of the modes prescribed by law ; and this is not one 
of those modes. 

Moreover, we frankly avow our belief that the allowance of 
this practice by law would be a most unwise and dangerous 
innovation in the system — leading gradually, but surely, to an 
entire change in its character. 

This practice originates in a desire to make larger earnings 
than would be likely to accrue from investments made accord- 
ing to law ; and the tendency is to lose sight of the important 
fact that safety, and not large dividends, is the fundamental 
idea. As their name indicates, these institutions are created, 
not so much to make profits on accumulated capital, as to 
create and save capital itself; and their business is to invest — 
to make permanently secure — deposits, and not to set them 
afloat on the shifting tides of business or speculation, for the 
sake of the higher premium which these may offer. 

Their primary object is benevolence and not gain. They 
offer to the industrious poor, to the widow, the orphan, and the 
aged, a place of deposit for their little savings, to be safely 
guarded against the day of need. The great object, then, that 

18 



138 BANK COMMISSIONERS' REPORT. [Oct, 

to which every other must give place, is security — this first, 
this last. And any course of policy, whether in respect to 
investments or otherwise, no matter how tempting its immediate 
advantages, which tends in the remotest degree to weaken that, 
should be most religiously guarded against. 

Further, these institutions, more than any other which deal 
in money, are based on faith — on the confidence reposed by the 
depositors — a class greatly liable to apprehension and panic — 
in the disinterestedness, the integrity and purity of character of 
the managers, in their personal devotion to their duty, and their 
inflexible adherence to the well known laws enacted by the 
State for their guidance. So vital is this to their existence, 
that any marked instance of neglect, of unfaithfulness, or of 
dereliction in duty, — any bold or reckless policy which should 
tend to warp these institutions from their original design, and 
thus to bring in general distrust instead of confidence, could 
not fail to produce unhappy results. Here, if any where, care- 
lessness, recklessness, or indifference deepen into crime ; while 
premeditated crime assumes a blackness unparalleled by any 
other which can be committed»against the rights of property. 

It is a just cause for congratulation that our savings banks 
have, with a single recent but sad exception, been so managed,- — 
in harmony with their true design, and in conformity with the 
laws, that they have deserved and enjoyed the confidence of the 
people, and been enabled to exert a wide spread and healthful 
influence, — inducing every where habits of industry, economy 
and thrift. Their deposits have steadily increased, until they 
have reached 139,424,418, an amount much larger than one- 
half the banking capital of the Commonwealth. 

Let now this large sum, or any considerable portion of it, be 
thrown into the market, and used by its custodians in competi- 
tion with the banks of discount in the purchase of commercial 
paper, and be made subject to all the contingencies and fluctua- 
tions of such a business, and what, we ask, would be the 
inevitable result ? 

Would not these institutions become mere banks of discount 
on deposits alone, acting the part of Shylock on borrowed 
capital ? Would not the probabilities of loss be vastly increased, 
and the sources of temptation be multiplied, and all confidence 



1859.] PUBLIC DOCUMENT— No. 6. 139 

in savings banks, as places of safeguard for the earnings of 
the poor, be annihilated ? 

Such, it seems to us, is the tendency, and such would be 
the inevitable result of adopting this and many other ingenious 
schemes which are so often suggested for enlarging the powers 
and the scope of these institutions. We cannot but believe 
that the day is far distant, when the people of the Common- 
wealth will lend a willing ear to any of these schemes, however 
plausible they may appear. 

We are not unaware of the apprehension felt by many, 
that the rapidly accumulating deposits may soon fail to find 
safe investment in the securities now prescribed by law. We 
have sympathized in that apprehension, and see no objection 
to enlarging the means of investment, provided, always, that 
its character, as an investment, be not changed. Accordingly, 
in a former Report, we recommended that savings banks be 
allowed to loan to the States and cities of New England, to 
the State of New York, and the cities of New York and 
Brooklyn. 

We need not say that in view of considerations like the 
foregoing, we regard all attempts to connect savings banks 
with banks of discount, whether by making their officers or 
their boards of trust and direction identical, as tending to 
subvert the true nature and design of savings banks, and wholly 
to be deprecated ; and that all efforts to establish them, for 
the sake of their emoluments, and not solely for the benefit 
of depositors, should be discouraged. 

For like reasons we repeat the suggestion made in our last 
Report, " that a wise policy would prohibit treasurers and all 
officers of savings banks, no less than cashiers of discount 
banks, from borrowing of the banks with which which they 
are connected, or even being sureties for other borrowers. " 

In closing this Report, we beg leave to recur to the opinions 
before expressed with respect to the obligations of the trustees 
of savings banks to keep a vigilant watch and ward over them. 
No public trust is of a more sacred nature than theirs. Every 
consideration which can be addressed to their sense of honor 
and justice is brought to bear here. The vast amounts intrusted 
to them, the character and condition of the depositors, the 
ruinous effects of breaches of faith on the public confidence in 



140 BANK COMMISSIONERS' REPORT. [Oct. 

our monetary system, and through it upon the general pros- 
perity, all conspire to urge them to the highest possible zeal 
and fidelity in the discharge of their duties. 

The publication of the names of well-known and respected 
citizens as a board of trustees, is not only nor chiefly a guar- 
anty of the confidence which they have in the integrity and 
ability of the immediate officers of the bank ; it is more. It 
is a deliberate pledge to the public of their personal super- 
vision and service to the full extent needful to secure the 
successful management of the institution. Let this pledge 
be conscientiously redeemed. Let investments be made only 
after the most careful investigation, and thorough knowledge 
of the securities offered. Let the examinations, — weekly, 
monthly or semi-annual, — be searching and thorough. Let 
the officers be required always to keep the books and records 
promptly written up in conformity with the by-laws and 
statutes. So doing, we may predict for our savings banks a 
continued career of prosperity and usefulness. 

JOSEPH WHITE, 

J. FREDERIC MARSH, 

WILLIAM D. FORBES, 

Bank Commissioners. 
Boston, October 15, 1859. 



1859.] PUBLIC DOCUMENT— No. 6. 141 



APPENDIX. 



No. 1. 
BANK OF BRIGHTON. 

Office of Bank Commissioners, 
Boston, Dec. 7, 1858. 

To Hon. Oliver Warner, Secretary of the Commonwealth. 

Sir, — By the 6th section of 127th chapter of the Acts of 1851? 
establishing a Board of Bank Commissioners, it is declared that "if 
any of the said corporations shall, in the opinion of the Commissioners, 
be found at any time to have violated any law of this Commonwealth, 
they shall forthwith make a special report on the subject of such violation, 
containing such statements and remarks as they may deem expedient, to 
the Secretary of the Commonwealth," &c. 

On the 12th November, 1858, a petition was presented by Thomas 
Hunt and five others, stockholders of the Bank of Brighton, under oath, 
setting forth their interest and the reasons for our making the examina- 
tion of the Bank of Brighton, which they requested us to make. On 
the 18th and 19th of November we made a full investigation of the 
affairs of said bank, as required in such case by the 4th section of the 
Act already cited. 

After this investigation had been made, the petitioner, Mr. Hunt, 
presented, on the 20th November, a supplemental petition, containing 
additional charges against the directors, in relation to past transactions. 
A copy of these charges was furnished to the board of directors of the 
Bank of Brighton, and their replies, under oath, have been received. 

The result of this investigation has been to disclose a violation of law 
in certain particulars which we will specify, viz. : — 

1. In issuing certificates of deposit payable in future. 

2. In talcing exchange on notes payable at the Bank of Brighton. 

3. In drawing drafts on a bank out of this State, payable on time. 

Some irregularities were also noticed in said bank as to its proceed- 
ings in times past — not, in the opinion of your Commissioners, amounting 
to violations of law. 



142 BANK COMMISSIONERS' REPORT. [Oct. 

After the examination had been concluded and the replies to the 
interrogatories received — the Commissioners also received, from the 
same directors, their assurance, in writing, that none of the directors 
justify, but, on the contrary, entirely disapprove of the acts complained 
of; and that their aim hereafter will be to conduct the bank in strict 
accordance with the provisions of the laws of this Commonwealth ; and 
that they will be especially careful not to allow any violations of law in 
relation to subjects specified in the charges lately preferred against them. 

This bank has been unfortunate in the loss of property by its late 
cashier. 

It is now under the management of a new president, recently elected, 
who has had six years' experience as a bank commissioner ; and the 
directors have elected a new cashier, who is well regarded by all who 
know him. 

Had we obtained information of the violations stated by us, upon our 
own examination, without charges furnished by stockholders, we should 
have felt justified, after receiving the explanations and assurances of the 
directors, to have withheld the present information from the Secretary 
of the Commonwealth ; but as we have thus obtained it, we submit the 
facts — with the admissions and explanations and assurances of the 
directors — together with a copy of the supplementary charges and 
reply — in the manner pointed out by the 6th section as already quoted 
by us. 

Very respectfully, your obedient servants, 

JOSEPH WHITE, 
SAM'L II. WALLEY, 
J. FREDERIC MARSH, 

Bank Commissioners. 



No. 2. 
SALEM BANK. 

Office of the Bank Commissioners, State House, 

Boston, March 19, 1859. . 



i 



To His Excellency the Governor, and the Honorable Council of the 
Commonwealth of Massachusetts. 

The undersigned having made a thorough and careful examination of 
the Salem Bank, in Salem, on the lGth and 17th insts., are of opinion 
that the said corporation has sufficient funds for the payment of all 
notes, bills, deposits and other demands existing against it, and, after the 



1859.] PUBLIC DOCUMENT— No. 6. 143 

payment thereof, that the net sum of one hundred and eighty-seven 
thousand five hundred dollars will remain in said bank as capital stock 
in funds available for all usual and proper banking purposes. 

JOSEPH WHITE, 
SAM'L H. WALLEY, 
J. FREDERIC MARSH, 

Bank Commissioners. 



No. 3. 

LOANS BETWEEN BANKS. 

Attorney-General's Office, 7 
Boston, March 3, 1859. ) 

Gentlemen, — I have carefully considered the question which you 
propound in your communication of the 19th ultimo, both upon general 
grounds and with reference to the case of the bank named. 

It is undoubtedly true that, by an existing provision of law, (Rev. 
St., ch. 36, § 57) "all debts due to any bank from any other bank, 
including bills of the bank so indebted, may lawfully draw interest." 
But this provision is to be carefully considered, and not extended 
beyond its literal meaning, more especially if such a construction would 
violate the general policy of the bank laws. I do not understand that 
this section expressly authorizes banks to loan money to other banks. 
Had this been the intent of the legislature, it would probably have been 
so expressed, as in the case of savings banks, whose deposits " may be 
loaned on interest" to any bank, incorporated under the authority of the 
Commonwealth, or of the United States (Rev. St., ch. 36, § 78). The 
expression in the 57th section is that " all debts due," &c, may lawfully 
draw interest. The statute manifestly refers to such balances, as in the 
ordinary and legitimate course of business between the banks must be 
constantly accruing, and which cannot be adjusted without some delay. 
Upon such balances it may be for the benefit of each bank that interest 
should be allowed, and this is unquestionably the intent of the law. But 
no bank can legally create a balance as the basis of a loan ; more 
especially if, by such a course, the whole loan of a bank would be 
expanded beyond its statute limit. It may sometimes be difficult to 
determine whether a balance drawing interest has resulted from the 
regular course of dealing between the banks. This La a practical 
question, to be determined in each case which arises, according to its 



144 



BANK COMMISSIONERS' REPORT. 



[Oct. 



peculiar circumstances. Certainly, there can be no difficulty in tlie a 
of banks which have no other dealings between themselv< 
I answer your several questions categorically as follows : — 

1. It is not lawful for a bank of discount to make a loan, on interest, 
to another bank, with which the loaning bank has no other dealings 
which would give occasion to balances or debts to form the subject of 
such loan. 

2. Such loan being irregular, of course it cannot warrant the pledge 
of bills as collateral security. 

3. It is quite obvious that if bills are pledged as collateral for such 
a loan, there does exist " such an express or implied agreement or 
understanding " as will subject the offending bank to the penalties' of 
the Act of 1837, ch. 224. 

I have the honor to be, very respectfully, 
Your obedient servant, 

STEPHEN H. PHILLIPS, Attorney- General. 
To the Bank Commissioners. 



No. 4. 

BASS RIVER BANK. 

On page 86 we have exhibited the Bass River Bank statement, as it 
was given to us on the 8th of August. A more accurate statement of 
the condition of the Bank at that date, as it appeared to us upon exam- 
ination, would be the following : — 



Capital, . 
Circulation, 
Deposits, . 
Bank Balances, 
Profits, . 



$100,000 00 


81,208 00 


12,380 25 


3 62 


3,494 01 


1197,085 88 



Loan, 

Beal Estate, 

Checks and Bills of 
other Banks, 

Bank Balances, 

Specie, 

Deficiency, 



$149,036 03 
2,613 74 

179 31 

16,294 00 

3,238 71 

25,724 09 



$197,085 88 



1859.] PUBLIC DOCUMENT— No. 6. 145 

On the 24th of August, we made another and a very close investiga- 
tion of its affairs, but did not find them materially improved. It was our 
opinion that the best interests of all concerned required that the institu- 
tion should be closed ; and we hoped that this might be done by vote 
of the stockholders themselves. The annual meeting was near at hand, 
and it was understood that a proposition to this effect would then be 
submitted. We waited to learn the result. An investigating committee 
was appointed ; and their report, although it did not recommend an 
immediate winding up of the business of the bank, served to confirm 
our previous impression in regard to its weak and crippled condition, 
and the inexpediency of its further continuance. Any longer delay 
seeming unadvisable, we brought the matter to the notice of the Attor- 
ney-General, through whom an injunction was obtained on the 26th of 
October ; and the result is that the affairs of the bank have been 
committed to the management of three receivers, viz. : Messrs. John 
Lowell, of Boston, John H. Nichols, of Salem, and John I. Baker, of 
Beverly. 



No. 5. 

THE PEOPLE'S FIVE CENTS SAVINGS BANK. 

On the 14th of October, we commenced an examination of the 
People's Five Cents Savings Bank, in Boston ; during the progress of 
which it became apparent that the institution was insolvent, and we felt 
it to be our imperative duty to apply at once for an injunction to pro- 
hibit said corporation from proceeding further with its business. The 
writ was served on the morning of the 1 5th ; a hearing was had on the 
18th, the Attorney- General appearing on behalf of the Commonwealth ; 
Hon. Samuel H. Walley and Hon. Jacob Sleeper were appointed 
receivers, and the papers and effects of the corporation were committed 
to their possession. As the report of the receivers will be submitted to 
the legislature early in its session, and wlil present a detailed exhibit 
of the affairs of the bank, we abstain from further remark. 

19